ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- Individuals are unemployed due to a lack in skills that modern industries need, change in technology. Which of the following categories of unemployment would these individuals fit it? Group of answer choices Seasonal Frictional Structural Cyclicalarrow_forwardThe following table includes information on the unemployment rates among workers. Unemployment Rates Among Workers Type of Unemployment Rate of Unemployment (percent) Cyclical 5.6% Discouraged 2.0 Frictional 2.4 Structural 3.5 Instructions: Round your answers to one decimal place. a. What is the actual unemployment rate? b. What is the natural rate of unemployment?arrow_forwardWhich type of unemployment is experienced by a person who is simply out of work, is actively seeking a job, and could start working immediately? structural unemployment O cyclical unemployment O frictional unemployment O seasonal unemploymentarrow_forward
- Robert applied for a job as a machine technologist. Due to his low level of skills in operating heavy duty machinery, Robert was not able to land the job. This type of unemployment is considered: Frictional Structural Seasonal Cyclical None of the abovearrow_forwardThe type of unemployment that is associated with labor market frictions or job search is referred to as: a. cyclical unemployment b. seasonal unemployment c. frictional unemployment d. structural unemploymentarrow_forwardAt full employment there is no structural unemployment. unemployment. frictional unemployment. avoidable unemployment. cyclical unemployment.arrow_forward
- Explain how frictional unemployment can be good for the economy.arrow_forwardUnemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills is called structural unemployment .frictional unemployment .the natural rate of unemployment .cyclical unemployment bOarrow_forwarda) What is the relationship of frictional, structural, seasonal and cyclical unemployment to the full-employment rate of unemployment (alternatively known as the natural rate of unemployment)? Discuss.arrow_forward
- Frictional unemployment is the Frictional unemployment is the a) unemployment that results when people become disheartened about their chances of finding a job and so stop looking for work. b) portion of unemployment that is due to the normal working of the labour market. c) portion of unemployment that is due to changes in the structure of the economy that result in a significant loss of jobs in certain industries. d) unemployment that occurs during recessions.arrow_forwardhelparrow_forwardDecide whether each of the following are frictional, structural, or cyclical unemployment: The economy gets worse, so General Motors shuts down a factory for four months, laying off workers. General Motors lays off 5,000 workers and replaces them with robots. The workers start looking for jobs outside the auto industry. About 10 workers per month at a General Motors plant quit their jobs because they want to live in another town. They start searching for work in the new town.arrow_forward
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