--%>
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 : Self-interest theory demonstration by

    The model of _____ was demonstrated by _____ along with the quote, “The loss of a small finger would remain the average European by sleeping which night, ... but, given he never observed them, he will snore with the most profound security over the loss of millio

    		•
  • Q : Explain producers in an industry

    Explain producers in an industry are receiving pure or economic profits?

    		•
  • Q : Distinguish between allocative

    Distinguish between allocative efficiency and productive efficiency. Give an illustration of achieving productive, but not allocative, efficiency?

    		•
  • Q : What is the basic principle of

    What is the basic principle of comparative advantage?

    		•
  • Q : Divergences arise between equilibrium

    What divergences arise between equilibrium and an efficient output when spillover costs? How might government correct this divergence?

    		•
  • Q : Ambrose’s budget constraint Question:

    Question: Ambrose consumes two goods, peanuts (x1 ) and a composite good (x2). He has a utility functionU = 4 √x1 + x2. This means his MU1 = 2/ √x1 an

    		•
  • Q : Illustrate major economic flows that

    Illustrate major economic flows that link U.S. with nations.  Provide an example to illustrate each flow.  Explain the relationship between the top and bottom flows.

    		•
  • Q : Historical process by Adam Smith of

    Writings on the historical process by Adam Smith of economic development do not comprise heavy reliance upon: (1) the development of property rights. (2) self interest. (3) divisions of labor in production processes. (4) innovations d

    		•
  • Q : Principle of comparative advantage When

    When Gene can make three pairs of cowboy boots per week or one saddle whereas Roy can make either two pairs of boots or two saddles, Gene will form boots whereas Roy makes saddles according to the: (i) Law of Occam’s Razor. (ii) Principle of comparative advantag

    		•
  • Q : What is an inverse relationship Briefly

    Briefly explain the use of graphs as a way to present economic relationships. What is an inverse relationship?

    		•