What’s the UR based on the table below? (1) Answer: Frictional Unemployment 1.8% Seasonal Unemployment .4%...
What’s the UR based on the table below? (1) Answer:
| Frictional Unemployment | 1.8% |
| Seasonal Unemployment | .4% |
| Structural Unemployment | 1.6% |
| Cyclical Unemployment | .1% |
Homework Answers
Answer
Cyclical unemployment rate = Actual unemployment rate - Natural unemployment rate
Natural unemployment rate = Structural Unemployment rate + Frictional Unemployment rate
(Note In general Seasonal unemployment is considered as a part of structural unemployment and is hence not used in calculating Natural unemployment)
=> Cyclical unemployment rate = Actual unemployment rate - Natural unemployment rate
= Actual unemployment rate - (Structural Unemployment rate + Frictional Unemployment rate)
=> 0.1% = Actual unemployment rate - (1.8% + 1.6%)
=> Actual unemployment rate = 0.1% + 3.4%
Thus, Actual unemployment rate = 3.5%
Hence, UR = 3.5%
Add Answer to:
What’s the UR based on the table below? (1) Answer:
Frictional Unemployment
1.8%
Seasonal Unemployment
.4%...
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Click to select options:
Frictional unemployment
Structural unemployment
Not employed
Cyclical unemployment
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Classifying the Unemployed Name(s) Classify the following examples as structural, frictional, seasonal or cyclical unemployment - or not in the labor force. Structural Frictional Seasonal Cyclical Not in Labor Force 1. Angelina Jolie just finished her last movie and is looking for her next film. 2. Tim Tromer was laid off from his construction job because of the recession. 3. Jennifer Waxem just graduated from college and is searching for her first job. 4. Tom Hyde quit his oil exploration...
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