Chapter 6 exercises

Chapter 6 exercises - Chapter 6 end of chapter review 6.1...

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Chapter 6 end of chapter review. 6.1 Examining Unemployment 1.1 Labor force = employed + unemployed 1.2 Individuals who have stopped looking for work because they did not believe jobs were available are not counted as unemployed in the traditional unemployment statistics. False 1.3 The labor force participation rate shows the percentage of the labor force that is unemployed. 1.4 Besides discouraged workers, another example of a marginally attached worker is workers who are not looking for jobs for other reasons, including lack of transportation of childcare. 6.2 Categories of unemployment 2.1 The three key types of unemployment are cyclical, frictional, and structural. 2.2 Natural rate of unemployment: consists of only frictional and structural unemployment 2.3 When the economy is at full employment, there is only cyclical unemployment. False full employment is when the unemployment rate is @ the natural rate. ->2.4 When MP3 players emerged and cassette players declined in popularity, what
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This note was uploaded on 04/16/2008 for the course ECON 1b taught by Professor Sheffrin during the Winter '07 term at UC Davis.

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Chapter 6 exercises - Chapter 6 end of chapter review 6.1...

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