Question

In: Economics

Indicate whether the described individuals are consideredofficially employed or unemployed or neither and whether they...

Indicate whether the described individuals are considered officially employed or unemployed or neither and whether they are a part of the labor force or not. Also, for those individuals unemployed indicate the type of unemployment (frictional, structural or cyclical). (12 pts)

Individuals

Employed/ Unemployed/

Neither

Belongs to Labor Force (Yes/No)

Type of Unemployment

Candy works in the strip club in Nassau.

Karen just graduated from high school and sent her resume out.

With the implementation of self-paid toll booths, Sharon lost her job.

Kevin is temporarily laid off after the hurricane due to the business closing.

Kathryn is a professional student at the University of the Bahamas.

Maria quits her job to find a job that gives her greater gratification.

Steve works only 5 hours per week and is looking for a 9 to 5 job.

Tiffany quits her job to become a housewife and raise a child.

Paul is a PE teacher that works as a security officer at night.

Devon looked for work for a while and was unsuccessful so he decided to start a new hobby playing golf.

Solutions

Expert Solution

Answer-

1.Candy works in the strip club in Nassau-Employed as she getting paid by the club.

Labor force-Yes

2.karen just graduated from high school and just sent her resume out-Unemployed (Frictional unemployment) as in this karen is looking for a job.

Labor force -No

3.With the implementation of self-paid tolls booths,sharon lost her job-Unemployed (Structural unemployment) because of mismatch of the skills sharon lost her job.

Labor force-No

4.kevin is temporarily laid off after the hurriance due to the business closing-Unemployed (Cyclical unemployment) due to contraction phase in business cycle.

Labor force-No

5. Kathryn is a professional student at the University of the Bahamas-Neither Employed nor Unemployed.

Labor force-No

6.Maria quits her job to find a job that gives her greater gratification-Unemployed (Firctional unemployment) as Maria will find a job to get a greater gratification.

Labor force-No

7.Steve works only 5 hours per week and is looking for 9-5 job-Firctional unemployment as Steve will look for 9-5 job.

Labor force-No

8.Tiffany quits her job to become a housewife and raise a child-Neither employed and unemployed.

Labor force-No

9.Paul is a PE teacher that works as a security officer at night -Employed as ,Paul works as a security officer at night.

Labor force-Yes

10. Devon looked for work for a while and was unsuccessful so he decided to start a new hobby playing golf.Firctional unemployment-looking for a job.

Labor force-No

Rahul Sunny answered 2 years ago
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