ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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5)
The United States has an
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not a problem, because the unemployment compensation program is not available to workers in all occupations until they find another job.
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still a problem, because the unemployment compensation program merely gives the unemployed enough funds for basic needs.
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still a problem, because the unemployment compensation program is not available to workers in the service occupations.
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not a problem, because the unemployment compensation program gives the unemployed enough funds for basic needs.
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- 4. Sectoral shifts, frictional unemployment, and job searches Suppose the world price of tobacco falls significantly. The demand for labor among tobacco-producing firms in Kentucky will The demand for labor among cigarette manufacturing firms in Virginia, which use tobacco as an input, will The temporary unemployment that results from sectoral shifts such as the ones describes above is best categorized 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. Establishing government-run employment agencies to connect unemployed workers to job vacancies Improving a widely used job-search website so that it matches workers to job vacancies more effectively Extending the number of weeks for which unemployed workers are eligible for unemployment insurance benefits from the governmentarrow_forward3. Calculate items A, B, and C in the table below. Employment Status August 2021 Civilian noninstitutional population 261,611 Civilian labor force 161,537 Participation rate Employed Employment-population ratio Unemployed Unemployment rate Not in labor force All numbers in Thousands. Source: Bureau of Labor Statistics. The number of persons who in principle could work. 153,154 58.5% B 100,074arrow_forwardQuestion 23 The term natural in the phrase natural unemployment rate implies that the unemployment rate is as low as it can be when it is at the natural rate. that unemployment is at an ideal rate when it is at the natural rate. the unemployment rate that prevails when real GDP equals potential GDP. that the unemployment rate is at the highest rate it can be when it is at the natural rate. that the unemployment rate is at the rate it would be at if there were no minimum wage laws.arrow_forward
- 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 percentarrow_forwardOf the following groups, who is eligible for unemployment insurance benefits? A The unemployed who quit their jobs B The unemployed who were laid off because their previous employers no longer needed their skills C) The unemployed who were fired for cause D The unemployed who just entered the labor forcearrow_forward3. Types of unemployment 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 Structural Frictional Cyclical Becky is a real estate agent. House sales in her area have declined because the region has been going through a recesslon. She has no cllents and is currently looking for a new full-time job. Raphael left his job as a plumber when his wife took a position in another region. The quantity of plumbing services demanded is considerably lower in the new region, in part because of high union-negotiated wages. He would like to work at the high union wage but remains unemployed due to a lack of plumbing jobs. Susan just moved with her husband to Portland, Oregon. She's looking for a job as a paralegal. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy. Rate…arrow_forward
- If an employee voluntarily quits his job, may the employee collect unemployment compensation? Suppose Hector is ordered by his boss to commit an illegal act—dumping toxic wastes into a river. Hector instead quits his job. Can Hector get unemployment compensation?arrow_forward19 If the economy is at full employment, which of the following is true? Group of answer choices There is no cyclical unemployment. There is zero unemployment. There is no structural unemployment. There is no frictional unemployment.arrow_forwardSuppose an economy is experiencing the following rates of unemployment by type. Rate (%) Cyclically Unemployed 1.5 Frictionally Unemployed 3.3 Structurally Unemployed 2.6 The actual unemployment rate is Multiple Choice 7.4 percent and the natural rate of unemployment is 5.9 percent. 5.9 percent and the natural rate of unemployment is 7.4 percent. 7.4 percent and the natural rate of unemployment is 10.1 percent. 10.1 percent and the natural rate of unemployment is 7.4 percentarrow_forward
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