Suppose the world price of cotton falls substantially. The demand for labor among cotton-producing firms in Texas will . The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, will The temporary unemployment resulting from such sectoral shifts in the economy is best described as unemployment. Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply. O Improving a widely used job-search website so that it matches workers to job vacancies more effectively O Increasing the benefits offered to unemployed workers through the government's unemployment insurance program O Extending the number of weeks for which unemployed workers are eligible for unemployment insurance benefits from the government

Suppose the world price of cotton falls substantially. The demand for labor among cotton-producing firms in Texas will . The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, will The temporary unemployment resulting from such sectoral shifts in the economy is best described as unemployment. Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply. O Improving a widely used job-search website so that it matches workers to job vacancies more effectively O Increasing the benefits offered to unemployed workers through the government's unemployment insurance program O Extending the number of weeks for which unemployed workers are eligible for unemployment insurance benefits from the government

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter16: The Markets For Labor, Capital, And Land

Section: Chapter Questions

Problem 4P

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Similar questions

While unemployment is highly negatively correlated with the level of economic activity, in the real world it responds with a lag. In other wands, firms do not immediately lay off workers in response to a sales decline. They wait a while before responding. Similarly, firms do not immediately hire workers when sales pick up. What do you think accounts for the lag in response time?
Beginning in the 1970s and continuing for three decades, women entered the U.S. labor force in a big way. If we assume that wages are sticky in a downward direction, but that around 1970 the demand for labor equaled the supply of labor at the current wage rate, what do you imagine happened to the wage rate, employment, and unemployment as a result of increased labor force participation?
Why is there unemployment in a labor market with flexible wages?
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What is structural unemployment? Give examples of structural unemployment.
The news article states that "Canadian youth and students are getting hit hard by this pandemic." In May 2020 the number of unemployed 15-24 year-olds was 1,710,900 and the 15-24 year-old labour force was 2,420,800. What was the unemploy te of youth? ne employment rate was D A. 41.6 percent O B. 13.7 percent OC. 29.4 percent O D. 24.1 percent
Between January 2012 and January 2019,U.S. employment increased by 17.3 million workers,but the number of unemployed workers declined byonly 6.3 million. How are these numbers consistentwith each other? Why might one expect a reductionin the number of people counted as unemployed tobe smaller than the increase in the number of peopleemployed?
if the wage gap falls, then unemployment is like to fall O True O False
Consider an economy with two labor markets—onefor manufacturing workers and one for serviceworkers. Suppose initially that neither is unionized.a. If manufacturing workers formed a union, whatwould you expect to happen to the wages andemployment in manufacturing?b. How would these changes in the manufacturinglabor market affect the supply of labor in themarket for service workers? What would happento the equilibrium wage and employment in thislabor market?
How would an increase in the world price of oil affect the amount oI fricnal unemployment? Is this unemployment undesirable? What publicpolicies mighIt affect the amoufll of unemployment caused by this price change?
Newly released data shows that the U.S. unemployment rate was 6.2 % in Feb 2021, whereas the Euro area unemployment rate was 8.3%. In fact, the U.S. has almost always (with a few exceptions) had a lower unemployment rate compared to the Euro area. Which is most likely not a reason to explain the above scenario? O The wage in Euro area is too high. Euro firms have shifted from hiring local workers to hiring in countries that have cheaper labor O Higher relative wages for skilled laborers in the US has decreased the unemployment rate Euro area has generous unemployment insurance to guarantee worker benefits, which increases the unemployment rate O U.S. has relatively stronger unions compared to the Euro area, which decreases the unemployment rate
Suppose the world price of steel falls substantially. The demand for labor among steel-producing firms in Pennsylvania willdecrease . The demand for labor among automobile-producing firms in Michigan, for which steel is an input, willincrease . The temporary unemployment resulting from such sectoral shifts in the economy is best described asfrictional unemployment. Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply.