Chapter 8: Q.3 (page 213)
Over the long term, has the U.S. unemployment rate generally trended up, trended down, or remained at basically the same level?
It has remained at an identical level.
Over 22 million students worldwide already upgrade their learning with Vaia!
All the tools & learning materials you need for study success - in one app.
Get started for free
What is frictional unemployment? Give examples of frictional unemployment.
While unemployment is highly negatively
correlated with the level of economic activity, in the real world it responds with a lag. In other words, firms do not immediately lay off workers in response to a sales decline. They wait a while before responding. Similarly, firms do not immediately hire workers when sales pick
up. What do you think accounts for the lag in response time?
Is the higher unemployment rates for minority workers necessarily an indication of discrimination? What could be some other reasons for the higher unemployment rate?
Would you expect the natural rate of
unemployment to be roughly the same in different countries?
Many college students graduate from college before they have found a job. When graduates begin to look for a
job, they are counted as what category of unemployed?
What do you think about this solution?
We value your feedback to improve our textbook solutions.
