When Rachel was a teenager, growing up in the 1980’s, she dreamed of one day taking over her parents’ record store business.  In the year 2000, her parents’ record store, along with countless others, closed down because people preferred to buy digital music online.  The people who lost their jobs in the record stores are considered:   Question 26 options:   a)  seasonally unemployed   b)  frictionally unemployed   c)  structurally unemployed   d)  cyclically unemployed

Scenario 1. Assume that frictional unemployment is 25; structural unemployment is 50; cyclical unemployment is 150; discouraged workers = 75; employed workers = 750; underemployed workers = 200. Use this information to answer the following 5 questions.Refer to Scenario 1.  What is the size of the labor force?   Question 12 options:   a)  1175   b)  750   c)  975   d)  1250

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

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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 Antonio 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. о A recent recession has reduced the number of visitors to a local water park. The park has had to lay off many of its employees, including Frances. о Caroline just moved with her husband to Bismark, North Dakota. She's looking for a job as a judicial clerk. о The following table presents data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) Frictional Cyclical 3.9 0.0 Structural 0.9 Total unemployment 4.8 True or False: This economy is not currently at its natural rate of…

Suppose 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 percent