Unemployment classification, Macroeconomics

Assignment Help:

Unemployment classification

Economists sometimes differentiate between different types of unemployment. There are many type of ways of classifying unemployment however the following is quite common.

Frictional unemployment. Individuals which are temporarily unemployed whereas transiting between jobs or just entering the labour market. This kind is characteristically short in duration however always present in a market economy.
Structural unemployment. Individuals which are unemployed since their skills are no longer in demand where they live. This kind typically results in longer spells and may need the unemployed to acquire training or to move.
Cyclical unemployment. Unemployment because of a recession.
Classical unemployment. Unemployment because of real wages being too high (for instance through minimum wage laws).

Related Discussions:- Unemployment classification

Production possibility frontiers, Using production possibility frontiers, a...

Using production possibility frontiers, and indifference curves for Argentina and Brazil, illustrate and explain the movement of both countries to the free-trade equilibrium patter

Short-run framework, What is the difference between the short-run framework...

What is the difference between the short-run framework and the long-run framework? Discuss how each relates to supply and demand.

Multiple expansion in banking, Multiple Expansion We have seen that a s...

Multiple Expansion We have seen that a single bank in a banking system can lend rupee for rupee with its excess reserves. What is the lending ability of the commercial banking

Decrease the nominal deficit, Which of the following will decrease the nomi...

Which of the following will decrease the nominal deficit? A. An increase in taxes. B. An increase in the debt. C. An increase in government expenditures. D. An increase in interest

Determine the term- gdp per capita, Determine the term- GDP per capita ...

Determine the term- GDP per capita GDP, being a flow, isn't a measure of the total wealth of a country though a measure of the "income" of country during a certain period of ti

Nominal interest rate of 15% compounded annually, An investor has a series ...

An investor has a series of three $15,000 payments expected to be realized at the end of years three, four, and five. Calculate the present value P at time zero and the correspondi

Product of demand curve, The demand curve for product X is given by QXd = 3...

The demand curve for product X is given by QXd = 340 - 4PX.\ a) How much consumer surplus do consumers receive when Px = $45? b) How much consumer surplus do consumers receiv

Define the monopoly of central banks, Define the monopoly of Central banks ...

Define the monopoly of Central banks The central bank has a monopoly on issuing currency, it is in complete control of the monetary base. In section 7.4.2 we will describe exac

Decrease in the price of product, if a 10% decrease in the price of product...

if a 10% decrease in the price of product A brings about a 3% increase in the sales of product B, then a. product A and B are complementary b. the cross elasticity of demand

Initial equilibrium position, Determine on any market the effect of the fol...

Determine on any market the effect of the following. Do each separately (on a separate graph) starting from an initial equilibrium position for each one. 1. increase in income

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages