Label each of the following scenarios as either frictional unemployment, structural unemployment, or cyclical unemployment. LO9.2 a.

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Label each of the following scenarios as either frictional unemployment, structural unemployment, or cyclical unemployment.

LO9.2

a. Tim just graduated and is looking for a job.

b. A recession causes a local factory to lay off 30 workers.

c. Thousands of bus and truck drivers permanently lose their jobs when driverless, computer-driven vehicles make human drivers redundant.

d. Hundreds of New York legal jobs permanently disappear when a lot of legal work gets outsourced to lawyers in India.

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Macroeconomics

ISBN: 9781259915673

21st Edition

Authors: Campbell McConnell, Stanley Brue , Sean Flynn

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Question Posted: Sep 28, 2024 07:00 AM

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Label each of the following scenarios as either frictional unemployment, structural unemployment, or cyclical unemployment. LO9.2 a.

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Macroeconomics

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