13. Problems and Applications Q8Structural unemployment is sometimes said to resultfrom a mismatch between the job skills that employerswant and the job skills that workers have. To explore thisidea, consider an economy with two industries: automanufacturing and aircraft manufacturing.If workers in these two industries require similar amountsof training, and if workers at the beginning of theircareers can choose which industry to train for, whatwould you expect to happen to the wages in these twoindustries?Wages between the two industries would be equal.Wages in the auto manufacturing industry would begreater than those in the aircraft manufacturing industry.Wages in the auto manufacturing industry would be lessthan those in the aircraft manufacturing industry.Wages in the auto manufacturing industry could begreater or less than those in the aircraft manufacturingindustry.Suppose that one day the economy opens itself tointernational trade and, as a result, starts importing autosand exporting aircraft.This would cause the demand for labor in the auto_____and the demand formanufacturing industry tolabor in the aircraft manufacturing industry toSuppose that workers in one industry cannot be quicklyretrained for other.In the short run, wages in the auto industrywouldwouldand wages in the aircraft industryHow would these shifts in demand affect equilibriumwages in the long run?Wages between the two industries would be equal.Wages in the auto manufacturing industry could begreater or less than those in the aircraft manufacturingindustry.Wages in the auto manufacturing industry would begreater than those in the aircraft manufacturing industry.Wages in the auto manufacturing industry would be lessthan those in the aircraft manufacturing industry.If for some reason wages fail to adjust to the new short-run equilibrium levels as a result of opening up tointernational trade, there will be a_________________ of workersin the aircraft industry and aof workers in theauto industry.

Structural unemployment is a type of unemployment that is caused by a mismatch between the skills…

Structural unemployment is sometimes said to result from a mismatch between the job skills that employers want and the job skills that workers have. To explore this idea, consider an economy with two industries: auto manufacturing and aircraft manufacturing. If workers in these two industries require similar amounts of training, and if workers at the beginning of their careers can choose which industry to train for, what would you expect to happen to the wages in these two industries?

Structural unemployment is sometimes said to result from a mismatch between the job skills that employers want and the job skills that workers have. To explore this idea, consider an economy with two industries: auto manufacturing and aircraft manufacturing. If workers in these two industries require similar amounts of training, and if workers at the beginning of their careers can choose which industry to train for, what would you expect to happen to the wages in these two industries?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Paulina works as a software engineer for her firm. Recently, her company was acquired by another firm that had its own information technology department. Because the new firm no longer had need of her services, Paulina's job was eliminated. What type of unemployment is Paulina experiencing?
I have a true and false questions that I'm confused about. "Jake is a full-time worker. Today, he is fired from his job, and he suddenly decides to retire. Due to this, there is no change to unemployment rate or labor force participation rate.” Thanks
What does the term "family wage economy" mean based on Ruiz's chapter "The Flapper and the Chaperone"? (Only ONE answer is correct.) A. It means that the economic survival of the family was based on all of the wages multiple family members earned; it was not just based on the husband or father's job. B. It means that families worked together for the same company and employers gave the entire family one paycheck; people were not paid individually. C. It means that the federal and state governments only imposed income taxes on the head of the household, not on wives or dependent children. D. It means that families did not expect their teenage children to work; teenagers were expected to enjoy leisure time as often as possible.
labour economics
For each of the following separate scenarios, determine if the labor force participation rate will increase or decrease. Group of answer choices ( Choose) Labor force participation rate will decrease or Labor force participation rate will Increase A) More companies allow workers to work from home. B) The government increases the financial aid received by full-time students. C) Companies receive government subsidies for hiring high-school graduates. D) Some discouraged workers re-enter the labor force to look for work.
How can seasonal unemployment be alleviated? Should it be alleviated? Why or why not?
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.
Classify each of the below individuals as employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. A 14-year old who babysits on the weekend: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. An active-duty soldier who volunteers without pay in the community: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. A parent who has stopped looking for jobs in order to take care of the children: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. A student who has begun applying for jobs but has not yet found one: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. An actor who works part-time at a restaurant but is looking for full-time work: employed, unemployed, not in the labor force, or not in…
Why is the unemployment rate amongst the Native Americans so high? Provide the relevant data and an explanation of this phenomenon.
You're advising a democratic government, and the leaders ask you about what kind of labor market regulations it should consider. Its only goal--I really mean only!--is to keep the unemployment rate as low as possible. It's considering a law that would make it expensive to fire workers, in order to reduce the number of workers entering the pool of the unemployed. According to labor search theory, what effect would this have on the job separation rate? On the job hiring rate? On the average (or steady-state) unemployment rate? Be sure to answer all three questions, and also answer this fourth question: Can you give this government clear advice to their precise question, or will your answer be a version of "It depends"?
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
Suppose that in an economy, the rate of job separation is 0.01 per month and the rate of job finding is 0.08 per month. Given these numbers, what is the natural rate of unemployment?