
Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Edition 20ISBN: 978-0077660772
Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Edition 20ISBN: 978-0077660772 Exercise 5
Label each of the following scenarios as either frictional unemployment, structural unemployment, or cyclical unemployment.
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.
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.
Explanation
First, we define these three kinds of un...
Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
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