Will each of the following affect frictional unemployment, structural unemployment, or neither. Explain your answer in...

Will each of the following affect frictional unemployment, structural unemployment, or neither. Explain your answer in each case. Next, for each of the following explain the impact on the natural rate of unemployment.

a. The internet dramatically reduces the cost of searching for jobs and employees.

b. A trade pact is signed that increases competition for domestic textiles, resulting in the loss of textile jobs, but increases vacancies in high-tech sectors. (Careful here.)

c. A large number of firms decide to minimize the adverse selection problem in the hiring process by paying efficiency wages.

d. Congress repeals all minimum wage laws.

e. The federal government increases unemployment compensation by $600 per week to those searching for employment during the pandemic.

Expert Solution

Rahul Sunny answered 2 years ago

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