Econ Macro (book Only)
6th Edition
ISBN: 9781337408745
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 7, Problem 3P
To determine
Types of
Concept Introduction:
a. Frictional unemployment arises due to the fact that people moving from one job to another.
b. Structural unemployment refers to the unemployment that arises due to the technological or policy changes and also due to the fluctuations in the
c. Seasonal unemployment is the unemployment that arises due to the mismatch between skills required and also due to the seasonal demand of products.
d. Cyclical unemployment is the unemployment that arises due to the cyclical trends in the growth and production.
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Q) The Australian Bureau of Statistics (ABS) reported in May 2017 that the civilianpopulation in Australia over 15 years of age was 20.8 million.Of this population of 20.8 million Australians, 13.5 million were employed and0.7 million were unemployed.Calculate Australia’s labor force and the number of people in the civilianpopulation who were not in the labor force? Also, with examples examine thecauses of structural unemployment in Australia
) Which of the following people would be unemployed (or belonging to any
labor market group) according to official statistics? Shortly explain why or why not.
(e) A worker who quits his job because he thinks the pay is insufficient.
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11 Frictional unemployment refers to:
Unemployment resulting from technological change, competition and government policies.
Unemployment occurs because of the mismatch between the characteristics of the labour force and the characteristics of the available jobs.
Unemployment occurs due to the ups and downs in the economy resulting from the business cycle.
Temporary unemployment occurs when the workers leave their present jobs and look for other jobs.
Chapter 7 Solutions
Econ Macro (book Only)
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