Business, 22.04.2020 03:56 bassicallytristen

Kevin recently lost his job as a dishwasher. Minimum-wage legislation keeps employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. Maria just graduated from college and is looking for a full-time position with an investment banking firm. Simone is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job.

Answers: 3

Show answers

Answers

Answer from: solphiafischer

Kevin: Structural unemploymentMaria: Frictional unemploymentSimone: Cyclical unemployment

Explanation:

Structural unemployment refers to a mismatch between the jobs available and the skill levels of the unemployed. What this means is the an individual does not possess the skills needed for him/her to be employed. As we can see from the scenario above, Kevin is unskilled and the minimum-wage legislation is keeping employers from adding more of the low-skill positions for which he qualifies.

Frictional unemployment refers to the unemployment which exists in an economy due to people being in the process of moving from one job to another. This has nothing to do with whether the individual is unskilled. As we can see from the scenario above, Maria is in the process of looking for a job.

Cyclical unemployment refers to the unemployment that arises when the overall demand for goods and services in an economy is low and cannot support full employment. This means that it occurs when economic growth is slow or when there is an economic contraction. From the scenario above, we can see that the house sales in Simone's area have declined because the region has been going through a recession.

Answer from: jaylynC

Kevin recently lost his job as a dishwasher. Minimum-wage legislation keeps employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work.

STRUCTURAL UNEMPLOYMENT: results from a mismatch between the individual's abilities and those required by the market, or in this case, the structural inability of the labor market to reach an equilibrium wage that includes the individual.

Maria just graduated from college and is looking for a full-time position with an investment banking firm.

FRICTIONAL UNEMPLOYMENT: is a type of voluntary unemployment that takes place when an individual is searching for a new and better job. Both structural and frictional unemployment are part of the natural unemployment rate.

Simone is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job.

CYCLICAL UNEMPLOYMENT: results from a decrease in aggregate demand due to a decrease in economic activity (recession), which means that less labor is required to produce aggregate output. This is considered an unhealthy type of unemployment since it happens when the economy is in contraction or has stopped growing and soon will start to contract.

Answer from: Quest

dual credit courses allow you to take a test at the end of the course that, if you pass it with a high enough score, will give you college credit.

Answer from: Quest

answerthe above statement is (true);

Another question on Business

Business, 22.06.2019 20:00

Experienced problem solvers always consider both the value and units of their answer to a problem. why?

Answers: 3

Answer

Business, 22.06.2019 21:10

Upon completion of the northwest-corner rule, which source-destination cell is guaranteed to be occupied? a. top-leftb. the cell with the lowest shipping costc. bottom-leftd. top-righte. bottom-right

Answers: 1

Answer

Business, 22.06.2019 22:40

Utilization will always be lower than efficiency because: a. effective capacity is greater than design capacityb. expected output is less than actual output.c. effective capacity equals design capacity.d. effective capacity is less than design capacity.e. expected output is less than rated capacity.

Answers: 3

Answer

Business, 23.06.2019 11:20

In a hypothetical economy, a market basket consists of one laptop and two dvd players. in the base year, 2010, the price of a dvd player was $200, and the price of a laptop was $500. in 2015, the price of a dvd player was $380, and the price of a laptop was $750. the cpi for 2010 was

Answers: 3

Answer

You know the right answer?

Kevin recently lost his job as a dishwasher. Minimum-wage legislation keeps employers from adding mo...

Questions