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HWakch28 - Econ 2: Principles of Economics Chapter 28...

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Econ 2: Principles of Economics Chapter 28 Questions for Review 3. Frictional unemployment is inevitable because the economy is always changing. Some firms are shrinking while others are expanding. Some regions are experiencing faster growth than other regions. Transitions of workers between firms and between regions are accompanied by temporary unemployment. The government could help to reduce the amount of frictional unemployment through public policies that provide information about job vacancies in order to match workers and jobs more quickly, and through public training programs that help ease the transition of workers from declining to expanding industries and help disadvantaged groups escape poverty. 4. Minimum-wage laws are a better explanation for unemployment among teenagers than among college graduates. Teenagers have fewer job-related skills than college graduates do, so their wages are low enough to be affected by the minimum wage. College graduates' wages generally exceed the minimum wage. 5.
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HWakch28 - Econ 2: Principles of Economics Chapter 28...

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