1) Suppose the job separation rate (s) of an economy is 0.01 and the job findings rate (f) is 0.2. The long run unemployment rate (u) is then 4.7%. Suppose the government is implementing a new law that helps unemployed people find jobs sooner. Which of the following is the most likely outcome? a) s increases and u decreases b) s decreases and u increases c) fincreases and u increases d) f increases and u decreases

During the initial months of the COVID pandemic, the number of unemployed people in the State of Illinois peaked at 1,108,211 in April 2020. By December 2021, the number of unemployed in Illinois had dropped down to 324,510 people. What is the overall percent decrease in the number of unemployed people in Illinois from April 2020 to December 2021? Please round your answer the nearest percent. Show your work.

Suppose a technological breakthrough leads domestic manufacturers to decrease the number of workers employed. These unemployed workers are considered to be: cyclically unemployed. frictionally unemployed. structurally unemployed. temporarily laid off and therefore not unemployed.

A man who retired becomes bored with retirement and begins to look for a job.  During the time he is searching for work he would be classified as      A) cyclically unemployed. B) structurally unemployed. C) frictionally unemployed. D) not unemployed because he was not working before he started looking for a job.

The Australian Bureau of Statistics recently reported a change in unemployment rate from 5.2% to 6.2%.With your understanding of unemployment, underemployment and others, do you believe this change is reflective of the employment situation in Australia? Discuss

Unemployment associated with individuals voluntarily leaving their job can be labelled: (a) seasonal unemployment; (b) discouraged worker syndrome; (c) frictional unemployment; (d) structural unemployment.

Suppose an economy is experiencing the following rates of unemployment by type.     Rate (%) Cyclically Unemployed 4.3 Frictionally Unemployed 4.8 Structurally Unemployed 4.2   The actual unemployment rate is   Multiple Choice   13.3 percent and the natural rate of unemployment is 9.0 percent.   15.5 percent and the natural rate of unemployment is 13.3 percent.   9.0 percent and the natural rate of unemployment is 13.3 percent.   13.3 percent and the natural rate of unemployment is 15.5 percent

Which of the following would NOT be considered unemployed? Group of answer choices A laid off autoworker from Michigan looking for a new job in California. A drama school graduate who gives up looking for acting jobs in Hollywood. A college student home for the summer looking for a construction job. A former engineer looking for a part-time job to supplement their income.

The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Lucia just graduated from college and is looking for a full-time position with an investment banking firm. Demand for new vehicles has fallen during a recent recession, and Sharon has been laid off from her job at an automotive factory. Kenji recently lost his job as a delivery driver. Minimum-wage legislation keeps employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. The following table presents data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) 3.6 0.0 1.1 4.7 Frictional Cyclical Structural Total unemployment True or False: This economy is not currently at its natural rate of unemployment. True False Structural Frictional Cyclical

Unemployment is a very important topic in macroeconomics. A high unemployment rate means that a lot of individuals willing to work cannot find a job. This is bad for the economy, as some resources (i.e., labour) remain idle. Comment on the effects that being unemployed have on an individual.