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. (LO4)
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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Related Book For
Principles Of Economics A Streamlined Approach
ISBN: 9780078021824
3rd Edition
Authors: Robert Frank, Ben Bernanke, Kate Antonovics, Ori Heffetz
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