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HW 2.013 - employment Illustrate your answer with a graph 3...

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ECON 304, SECTION 013 INTERMEDIATE MACROECONOMIC POLICY HOMEWORK 2 (CHAPTER 3) PROBLEMS DUE: WEDNESDAY, SEPTEMBER 16, 2009 1. What is frictional unemployment? Why is a certain amount of frictional unemployment probably necessary in a well-functioning economy? What is structural unemployment? 2. If the labor demand curve shifts to the left and the labor supply curve remains unchanged, what will happen to the equilibrium wage and the equilibrium level of
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Unformatted text preview: employment? Illustrate your answer with a graph. 3. How would each of the following affect the current level of full-employment output? Explain. (a) A large number of immigrants enter the country. (b) Energy supplies become depleted. (c) New teaching techniques improve the educational performance of high school seniors. (d) A new law mandates the shutdown of some unsafe forms of capital. 1...
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