QUESTION FOUR [15] Economists classify unemployment according to various categories. List and describe three main types...

QUESTION FOUR [15]
Economists classify unemployment according to various categories. List and describe three
main types of unemployment.

Solutions

Expert Solution

Answer : Three main types of unemployment are :

(I) Cyclical Unemployment : Cyclical unemployment fluctuate by the business cycle. When the economy is in downturn of business cycle then the demand for workers fall which create the unemployment in the economy. This unemployment become vanish when the economy is in upturn of business cycle. The unemployment which fluctuate by the business cycle is known as cyclical unemployment.

(II) Structural Unemployment : Structural unemployment occur due to mismatch in job. This means that when mismatch exist between employer's want and employee's skill then unemployment occur. This unemployment is called structural unemployment.

(III) Frictional Unemployment : Frictional unemployment occur when people switch from one job to another job. This means that when people quit current job and searching for new job to get better position and facilities then at that new job searching period peoples become unemployed. This unemployment is known as frictional unemployment.

Rahul Sunny answered 9 months ago

Next > < Previous

Related Solutions

QUESTION FOUR [20] List and briefly explain the main types of unemployment, including in your answer...

QUESTION FOUR [20] List and briefly explain the main types of unemployment, including in your answer a discussion of the type of unemployment that is most prevalent in your country QUESTION ONE [25] Fully discuss how the production possibility frontier (PPF) can be used to illustrate economic growth. Include in your answer the main factors that contribute to economic growth. Apply this concept of the PPF to a country of your choice.

List and briefly explain the main types of unemployment..

15 –List and describe the various paraphelias.

Question 2. a. Describe each of the four types of unemployment that may be observed monthly...

Question 2. a. Describe each of the four types of unemployment that may be observed monthly in a country. b. Define natural rate of unemployment. Explain the implications of Robert Hall’s theory of the natural rate of unemployment U = s / s + f in a country. c. Describe the nature, causes and policy implications of frictional unemployment. d. Describe the Beveridge curve. How does the Beveridge curve help determine whether an observed increase in the unemployment rate is...

1. What three categories does the Bureau of Labor Statistics classify adults in to measure unemployment?...

1. What three categories does the Bureau of Labor Statistics classify adults in to measure unemployment? _____________________________ _____________________________ ______________________________ What is the labor force? ___________________________________________________________________ What does the unemployment rate measure? ___________________________________________________ __________________________________________________________________________________________ 4. What does the labor force participation rate measure? ___________________________________________ __________________________________________________________________________________________ If the total population (age 16 and over) is 40 million, 1 million are unemployed, and 24 million currently hold jobs, how big is the labor force? _____________________________ what is the unemployment rate? _________________________ the labor...

1. Briefly describe the four categories of identifier scope in C++. 2. List the three steps...

1. Briefly describe the four categories of identifier scope in C++. 2. List the three steps in loop design. **please give simple answers. I don't need a code. Just the definitions please.

Question 5. Classify the main rock types with their characterics features (also indicate main subdivisions), and...

Question 5. Classify the main rock types with their characterics features (also indicate main subdivisions), and give examples for each one.

Describe the three types of Unemployment: a.) Which type of Unemployment is likely to last the...

Describe the three types of Unemployment: a.) Which type of Unemployment is likely to last the longest? Explain: b.) Provide a General Graph illustrating a Business Cycle and indicate the areas of highest and lowest Unemployment.

Name the four types of market structures and list their main characteristics.

Describe fraud. What are the three categories of fraud and list an example of each. Describe...

Describe fraud. What are the three categories of fraud and list an example of each. Describe the fraud triangle. List the key requirements of the Sarbanes-Oxley Act (SOX) List the components of the framework commonly used in corporations when analyzing their internal control systems: List the five common principles of Internal Control and give an explanation and example of each Name two reasons why internal control for cash is important. What does the term “cleared the bank” mean? What are...

Subjects