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Chapter 7: b (page 148)

Why do you suppose that many economists argue that unemployment would drop if people developed stronger critical-thinking, writing, and science and mathematics skills that can be applied to a wider range of job tasks?

Short Answer

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Unemployment would drop if people developed stronger critical thinking, writing, and science and mathematics skills that can be applied to a wider range of job tasks and any innovative up-gradation won't prompt high joblessness in a country.

Step by step solution

01

introduction

Routine positions incorporate positions that utilise fewer abilities and utilize straightforward guidelines to perform errands.

02

explanation

It is seen that with the approach of innovation and development organizations are persistently dislodging workers who can't coordinate with the mechanical up-gradation. Hence, to support and additionally secure new positions in the changing climate workers actually must foster more grounded decisive reasoning, composing, science and math abilities which will empower them to adjust quicker to underlying changes.

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Most popular questions from this chapter

During the course of a year, the labour force consists of the same 1,000 people. Employers have chosen not to hire 20 of these people in the face of government regulations making it too costly to employ them. Hence, they remain unemployed throughout the year. At the same time, every month during the year, 30 different people become unemployed, and 30 other different people who were unemployed find jobs.

a. What is the frictional unemployment rate?

b. What is the unemployment rate?

c. Suppose that a system of unemployment compensation is established. Each month, 30 new people (not including the 20 that employers have chosen not to employ) continue to become unemployed, but each monthly group of newly unemployed now takes two months to find a job. After this change, what is the frictional unemployment rate?

d. After the change discussed in part (c), what is the unemployment rate?

Between 2017 and 2018 in a particular nation, the value of the consumer price index for which the base year is 2014 -rose by 9.091 per cent, to a value of 120 in 2018. What was the value of the price index in 2017?

Suppose that the U.S. nonmilitary, noninstitutionalized adult population is 254 million, the number employed is 156 million, and the number unemployed is 8 million.

a. What is the unemployment rate?

b. Suppose there is a difference of 60 million between the adult population and the combined total of people who are employed and unemployed. How do we classify these 60 million people? Based on these figures, what is the U.S. labour force participation rate?

Discuss the types of unemployment.

Suppose that you are given the following information:

a. If the labour force participation rate is 65 per cent, what is the labour force?

b. How many workers are employed?

c. What is the unemployment rate?
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