Chapter 21: Q 14. (page 524)
What are some of the problems with using the unemployment rate as an accurate measure of overall joblessness?
Short Answer
This is because there are varied situations arise in the economy overall.
Chapter 21: Q 14. (page 524)
What are some of the problems with using the unemployment rate as an accurate measure of overall joblessness?
This is because there are varied situations arise in the economy overall.
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Get started for freeName and explain some of the reasons why wages are likely to be sticky, especially in downward adjustments.
The U.S. unemployment rate increased from 4.6%
in July 2001 to 5.9% by June 2002. Without studying the subject in any detail, would you expect that a change of this kind is more likely to be due to cyclical unemployment or a change in the natural rate of unemployment? Why?
What is structural unemployment? Give examples of structural unemployment.
What is the difference between being unemployed
and being out of the labor force?
A government passes a family-friendly law that no companies can have evening, nighttime, or weekend hours so that everyone can be home with their families during these times. Analyze the effect of this law using a demand and supply diagram for the labor market: first assuming that wages are flexible, and then assuming that wages are sticky downward.
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