Answered step by step
Verified Expert Solution
Question
1 Approved Answer
9 . Types of unemployment The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each
9 . Types of unemployment
The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics.
Identify each person in the table as structurally, frictionally, or cyclically unemployed.
Unemployment Type | Structural | Frictional | Cyclical | |
---|---|---|---|---|
Deborah just graduated from college and is looking for a full-time position with an investment banking firm. | ||||
Carlos recently lost his job as a dishwasher. Minimum-wage legislation keeps employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. | ||||
Automobile demand has fallen during a recent recession, and Janet has been laid off from her job on the assembly line. |
The following table shows data on frictional, cyclical, structural, and total unemployment for an economy.
Unemployment Type | Rate |
---|---|
(Percent) | |
Frictional | 3.8 |
Cyclical | 0.0 |
Structural | 1.1 |
Total unemployment | 4.9 |
True or False: This economy is currently at its natural rate of unemployment.
True
False
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started