Elucidate types of unemployment
Elucidate types of unemployment?
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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.
Perfect competition is characterized by all of the following except w) heavy advertising by individual sellers. x) homogeneous products. y) sellers are price takers. z) a horizontal demand curve for individual sellers. Q : Introduction of the term combined Give a brief introduction of the term combined leverage? And in what manner it is calculated?
Give a brief introduction of the term combined leverage? And in what manner it is calculated?
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A perfectly competitive firm produces 3,000 units of a good at a total cost of $36,000. The cost of each good is $10. Calculate the firm's short-run profit or loss. w) loss of $6,000. x) profit of $6,000. y profit of $30,000. z) There is insufficient
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Question: To determine the real exchange rate, what two pieces of information do you need in addition to the nominal exchange rate? Answer: Q : Fixed or managed exchange rate Question: A country with a fixed or managed exchange rate would consider i.___________________ its currency to gain competitive advantage vis-à-vis its trade
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