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Macro 2.3-Unemployment Stumping Questions

Last updated about 1 year ago

7 questions

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Question 1

1.

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What are the three categories into which the BLS (Bureau of Labor Statistics) divides everyone?

Question 2

2.

Is unemployment typically short-term or long-term?

Long-term

Short-term

Question 3

3.

Why is frictional unemployment inevitable?

Question 4

4.

Are minimum-wage laws a better explanation for structural unemployment among teenagers or college grads?

College Grads

Teenagers

Question 5

5.

How do Unions affect the natural rate of unemployment?

Question 6

6.

What claims do advocates of unions make to argue that unions are good for the economy?

Question 7

7.

Explain four ways in which a firm might increase its profits by raising the wages it pays.