For each of the following scenarios, state whether the unemployment is frictional, structural, or cyclical. Justify your

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For each of the following scenarios, state whether the unemployment is frictional, structural, or cyclical. Justify your answer. (LO5)

a. Ted lost his job when the steel mill closed down. He lacks the skills to work in another industry and so has been unemployed over a year.

b. Alice was laid off from her job at the auto plant because the recession reduced the demand for cars. She expects to get her job back when the economy picks up.

c. Gwen had a job as a clerk but quit when her husband was transferred to another state. She looked for a month before finding a new job that she liked.

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Principles Of Macroeconomics

ISBN: 9781259414367

6th Edition

Authors: Robert Frank, Ben Bernanke, Kate Antonovics

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