Business, 26.03.2021 19:20 badatmathmate8388

The components of the unemployment rate In the following table, determine what type of unemployment best describes each situation. Frictional Cyclical Structural Unemployment Unemployment Unemployment Kevin was laid off as a teacher because of government budget cuts, made necessary by a fall in tax revenues caused by a recession. Crystal's contract ended last week, and her next contract doesn't start until next week. Susan was a highly skilled instrument maker, but she hasn't been able to find work in the field since her workshop closed due to competition from instrument makers in China. Imagine an economy where the structural rate of unemployment is 7% and the frictional rate of unemployment is 3.5%. In this economy the natural rate of unemployment would be determined from the information given.) and the cyclical rate of unemployment would be . (Select ?% if the rate cannot be determined from the information given.)

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The components of the unemployment rate In the following table, determine what type of unemployment...

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