Economics (7th Edition) (What's New in Economics)
7th Edition
ISBN: 9780134738321
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 20, Problem 20.2.5PA
To determine
Advices for the frictionally unemployed, structurally unemployed and cyclically unemployed.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
In each of the following cases, classify the person as cyclically unemployed, structurally unemployed, frictionally unemployed, or not in the labor force. Explain your answers.
Katy just graduated from a top law school and is currently deciding which law firm job offer she will accept
Perry lost his job as an assembly line worker at Chrysler during the recession.
Axl, an advertising executive in Seattle, quit his job one month ago to look for a more prestigious advertising job in NYC. He is still looking for a job.
Rose got laid off from her job as a financial analyst 3 months ago and has not looked for a new job since then.
Bob lost his job as a welder due to the introduction of robotic welding machines
Dylan quit her job as a hotel concierge to become a full-time student at a culinary school
How would I calculate these? I feel like I would need the number of unemployed people rather than employed
Suppose you live in a community of 5,000 people where everyone wants to work and seeks employment. If 4,000 people are over 16 years old and 3,000 of them are employed, what is the unemployment rate in this community?
Chapter 20 Solutions
Economics (7th Edition) (What's New in Economics)
Ch. 20 - Prob. 20.1.1RQCh. 20 - Prob. 20.1.2RQCh. 20 - Prob. 20.1.3RQCh. 20 - Prob. 20.1.4RQCh. 20 - Prob. 20.1.5RQCh. 20 - Prob. 20.1.6RQCh. 20 - Prob. 20.1.7PACh. 20 - Prob. 20.1.8PACh. 20 - Prob. 20.1.9PACh. 20 - Prob. 20.1.10PA
Ch. 20 - Prob. 20.1.11PACh. 20 - Prob. 20.1.12PACh. 20 - Prob. 20.1.13PACh. 20 - Prob. 20.1.14PACh. 20 - Prob. 20.2.1RQCh. 20 - Prob. 20.2.2RQCh. 20 - Prob. 20.2.3RQCh. 20 - Prob. 20.2.4PACh. 20 - Prob. 20.2.5PACh. 20 - Prob. 20.2.6PACh. 20 - Prob. 20.2.7PACh. 20 - Prob. 20.2.8PACh. 20 - Prob. 20.3.1RQCh. 20 - Prob. 20.3.2RQCh. 20 - Prob. 20.3.3RQCh. 20 - Prob. 20.3.4PACh. 20 - Prob. 20.3.5PACh. 20 - Prob. 20.3.6PACh. 20 - Prob. 20.3.7PACh. 20 - Prob. 20.3.8PACh. 20 - Prob. 20.4.1RQCh. 20 - Prob. 20.4.3RQCh. 20 - Prob. 20.4.4PACh. 20 - Prob. 20.4.5PACh. 20 - Prob. 20.4.6PACh. 20 - Prob. 20.4.7PACh. 20 - Prob. 20.4.9PACh. 20 - Prob. 20.4.10PACh. 20 - Prob. 20.5.1RQCh. 20 - Prob. 20.5.2RQCh. 20 - Prob. 20.5.3PACh. 20 - Prob. 20.5.4PACh. 20 - Prob. 20.5.5PACh. 20 - Prob. 20.5.6PACh. 20 - Prob. 20.5.7PACh. 20 - Prob. 20.5.8PACh. 20 - Prob. 20.6.1RQCh. 20 - Prob. 20.6.2RQCh. 20 - Prob. 20.6.3RQCh. 20 - Prob. 20.6.4RQCh. 20 - Prob. 20.6.5PACh. 20 - Prob. 20.6.6PACh. 20 - Prob. 20.6.7PACh. 20 - Prob. 20.6.8PACh. 20 - Prob. 20.6.9PACh. 20 - Prob. 20.7.1RQCh. 20 - Prob. 20.7.3RQCh. 20 - Prob. 20.7.5RQCh. 20 - Prob. 20.7.6PACh. 20 - Prob. 20.7.8PACh. 20 - Prob. 20.7.9PACh. 20 - Prob. 20.1RDECh. 20 - Prob. 20.5RDECh. 20 - Prob. 20.7RDECh. 20 - Prob. 20.10RDECh. 20 - Prob. 20.11RDECh. 20 - Prob. 20.1CTECh. 20 - Prob. 20.2CTE
Knowledge Booster
Similar questions
- Would you expect the natural rate of unemployment to be roughly the same in different countries?arrow_forwardDuring 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.arrow_forwardWhen the following events happen, does the unemployment rate rise, fall, or stay the same? Briefly motivate your answer. Workers are laid off and start looking for work People without jobs who are looking for work find work People without jobs and looking for work give up and stop looking People without jobs and not looking for work become encouraged and decide to start look for work People without jobs and not looking for work take a job immediatelyarrow_forward
- How can an absence of employing opportunities contribute to high unemployment rates?arrow_forwardThe 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 Alyssa just moved with her husband to Portland, Oregon. She's looking for a job as a paralegal. A recent recession has reduced the number of visitors to a local theme park. The park has had to lay off many of its employees, including Crystal. Tim recently lost his job as a dishwasher. 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.arrow_forwardSuppose that the number of non-institutional civilian (working age) population is 150 million. Of those, 20 million are neither working nor looking for jobs. If the number of people employed is 100 million, what is the unemployment rate?arrow_forward
- Why should the unemployment rate matter to employers?arrow_forwardWhat is the difference between being unemployed and being out of the labor force?arrow_forwardIn the year 2020, total number of employed was 1,700. There are 110 who were frictionally unemployed, and 70 who were cyclically unemployed. Total number of unemployed was 420. Determine the number of people structurally unemployed for the year 2020. Your Answer:arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning