For each of the following scenarios, state whether the unemployment is frictional, structural, or cyclical. Justify your
Question:
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.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Principles Of Macroeconomics
ISBN: 9781259414367
6th Edition
Authors: Robert Frank, Ben Bernanke, Kate Antonovics
Question Posted: