Question

In: Economics

2. Determine whether each of the following would be considered frictional, structural, seasonal, or cyclical unemployment....

2. Determine whether each of the following would be considered frictional, structural, seasonal, or cyclical unemployment. Please answer in the blank box.

A	A UPS employee who was hired for the Christmas season is laid off after Christmas
B	A worker who is laid off due to reduced aggregate demand in the economy
C	A worker in a DVD rental store becomes unemployed as video-on-demand cable service becomes more popular
D	A new college graduate is looking for employment

3. Technological change is an important driver of economic growth. Find a story about a new innovation, (The “Technology” column in the Wall Street Journal Marketplace section is a good place to find one).In addition to providing a link to the article complete the following:

1. Briefly describe the article

2. How will this innovation affect the US production possibilities frontier?

3. Does is it seem to affect employment as well?

4. If so which type of workers will be harmed?

Expert Solution

Question 2

(A)

A UPS employee who was hired for the Christmas season is laid off after christmas.

When employee is hired for a particular time period or season and is laid off there after, he or she is said to be seasonally unemployed.

This case would be considered of seasonal unemployment.

(B)

A worker who is laid off due to reduced aggregate demand in the economy.

Reduction in aggregate demand indicates downturn in business cycle.

So,

This case would be considered of cyclical unemployment.

(C)

A worker in DVD rental store becomes unemployed as videos-on-demand canle service becomes more popular.

In this case, unemployment is happening due to change in technology which indicates structural unemployment.

So,

This case would be considered of structural unemployment.

(D)

A new college graduate is looking for employment.

New entrants in labor force that are looking for job are termed as frictionally unemployed.

So,

This case would be considered of frictional unemployment.

Rahul Sunny answered 2 years ago

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