--%>
Assignment Help - homework help

Elucidate types of unemployment

Elucidate types of unemployment?

E

Expert

Verified

Types of unemployment

1. Frictional unemployment consists of those searching for jobs or waiting to take jobs soon; it is regarded as somewhat desirable, because it indicates that there is mobility as people change or seek jobs.

2. Structural unemployment:  due to changes in the structure of demand for labor; e.g., when certain skills become obsolete or geographic distribution of jobs changes.

a. Glass blowers were replaced by bottle-making machines.

b. Oil-field workers were displaced when oil demand fell in 1980s.

c. Airline mergers displaced many airline workers in 1980s.

d. Foreign competition has led to downsizing in U.S. industry and loss of jobs.

e. Military cutbacks have led to displacement of workers in military-related industries.


3. Cyclical unemployment is caused by the recession phase of the business cycle, which is sometimes called deficient demand unemployment.

   Related Questions in Business Economics

  • Q : Best alternatives while choices are made

    Opportunity costs, which are the values of the: (i) monetary costs of goods and services. (ii) best alternatives sacrificed while choices are made. (iii) minimal budgets of families upon welfare. (iv) hidden charges passed upon to consumers. (v) exorb

    		•
  • Q : Describe unanticipated inflation

    Describe unanticipated inflation?

    		•
  • Q : Illustrate Professional and personal

    Illustrate Professional and personal applications?

    		•
  • Q : Illustrate the 3rd the government

    Illustrate the 3rd the government redistributes income?

    		•
  • Q : Innate psychological attributes of

    As illustrated by Adam Smith that there are two innate psychological attributes of humans. One is which people have a powerful wish to better their individual circumstances. The other is as human beings so we are: (1) more interested

    		•
  • Q : New firms entry in industry What

    What persuades new firms to enter in an industry? Answer: Abnormal profit encourages new firms to enter an industry. 

    		•
  • Q : Main economic functions of government

    Enumerate and briefly discuss the main economic functions of government.  Which of these functions do you think is the most controversial?  Why?

    		•
  • Q : Case of arbitrage while selling and

    Assume that melons sell for $5 in Brazil when moose pelts sell for $10, still into Canada melons sell for $10 as well as moose pelts sell for $5. A person who buys moose pelts within Canada to sell into Brazil would be doing: (1) speculation. (2) the “invisible

    		•
  • Q : Exploit consumers in highly competitive

    This is difficult for firms within highly competitive markets to exploit consumers since: (i) consumer advocates organize boycotts that generate bad publicity. (ii) market pressures force fair distributions of products. (iii) the government sets price

    		•
  • Q : Explain determining the types of the

    Explain determining the types of the various products that will be produced?

    		•