Business College

Identify each person below as structurally, frictionally, or cyclically unemployed.


a. Jake 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.
b. Rosa is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job.
c. Latasha just graduated from college and is looking for a full-time position with an investment banking firm.

Answers

Answer 1

Answer and Explanation:

Structurally unemployed: It refers to mismatch between both the available jobs and the unemployed skills

Frictionally unemployed: This condition occurs when the workers or labors are not employed and looking for the work

Cyclically unemployed: It arise when where the aggregate demand for goods and services can not encourage full employment in an economy. This takes place during times of sluggish economic growth or times of economic contraction

Based on the explanation, the classification is as follows

a. Structurally unemployed

b. Cyclic unemployed

c. Frictionally unemployed

Related Questions

An investor buys a 10-year, 7% coupon bond for $1,050, holds it for 1 year, and then sells it for $1,040. What was the investor's rate of return?

Answers

Answer:

The answer is 5.71%

Explanation:

Solution

Given that

Coupon rate = 7%

Bond = $1050

Sale of the bond = $1040

n = 10 years, n = 1 year

Now we find the investor's rate of return

Thus

Coupon payment = 7%* 1000

=70

1050 = 70/(1+r) + $1,040/(1+r)

r= 5.71%

Therefore the rate of return of the investor is 5.71%

or

Rate of return = (P1-P0+ Interest ) /P0

= (1040 -1050 + 70 )/1050

= .0571 or 5.71%

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