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Q3) B. Explain the meaning of Structural
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- Q3. Which kind of unemployment is worse in macroeconomics? Also give some suggestions to overcome the structural unemployment and seasonal unemployment in Pakistan.Structural Unemployment occurs when wage is kept above equilibrium. There are three reasons for this. Explain.b) Elaborate the major causes of unemployment with examples from your country today. C)Assume you are given the position of a Minister in charge of labour, provide possible solutions to the above problem.
- In the context of labor market dynamics, which scenario best illustrates the concept of "structural unemployment"? a) A significant number of workers in the automotive industry lose their jobs due to automation and lack the skills required for available jobs in the technology sector. b) A temporary economic recession leads to widespread job losses across various industries. c) Seasonal workers in the tourism industry are unemployed during the off-season months. d) A company lays off employees due to a downturn in its business cycle, but plans to rehire them when the situation improves.According to the most recent survey conducted by Statistics Bureau of Metropolis, currently there are 14 million people between the age of 15 and 64 living in the city. If the labour force participation rate in Metropolis is 65 percent and 8.5 million people currently have jobs, what is the rate of unemployment? Options: A) 3.7% B) 7.8% C) 6.6% D) 11.4% E) 12.9% Show all working out and full explanations.Considering the wage-setting relation, which one of the following will definitely result in a decrease in the natural rate of unemployment? (a) An increase in the mark-up of firms; (b) A decrease in the unemployment rate; (c) An increase in the expected price level; (d) A reduction in the labour laws protecting workers.
- How has microsoft contributed to the unemployment rate (has it laid off people within the last year(s))Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Raphael is a 75-year-old professor. He teaches only one or two courses a year, but still publishes research at a productive rate. Susan is a 26-year-old recent college graduate . She did not work for pay last week, but she had two job interviews. Alex is a 39-year-old graphic designer who is taking 2 years off from work to care for his young child. Eileen is a 31-year-old science teacher who taught at River Rock Middle School last year. Due to budget cuts, she was laid off at the end of the school year. It's the summer now, and after a few weeks of vacation with her family, she is looking for a part-time job as a tutor. Clancy is a 20-year-old American Studies major at the University…Typically, even at similar stages of the economic cycle, the unemployment rate in several West European countries is higher than in the United States. To what extent can the above observation possibly be linked or not with the fact that in Europe: (1) the unionization rate is higher (2) laws often make it more difficult to lay off people, (3) collective bargaining is more or less centralized, (4) unemployment insurance programs are relatively more generous.
- Q3) A. Refer to the information provided in Table below to answer the questions that follow. Employed 148,297 Unemployed 8,705 What is the number of labor force What is the rate of unemployment What is the cost of unemployment (Explain just one point)?If the rate of separation is 10% and the rate of finding a job is 20%, then the equilibrium unemployment rate is a) 33.33% b) 50.00% c)) 66.67% d) 100.00% 2) When there is an increase in the rate of unionization in an economy, then a) frictional unemployment increases. b) the natural rate of unemployment increases. c) both a) and b) are correct. d) neither a) nor b) are correct. 3) If the Philips curve is ?? = ????- 3(?? - ?? ??) + ?? and there are no supply shocks. If monetary policy's target is 6%, the natural rate of unemployment is 6%, and inflation has been 9%, what does the unemployment rate have to be to achieve their target? a) 3% b) 6% c) 7% d) 9% 4) If the sacrifice ratio is estimated to be 3, then to reduce inflation by 3 percentage points, would require a) a total output increase of 1% v. b) a total output increase of 9%. c) a total output decrease of 1%. d) a total output decrease of 9%. 5) Which of the following would be an explanation for a hysteresis effect that…Discuss TWO (2) types of unemployment and provide a relevant example for each.