Chapter 13 Assessment

Chapter 13 Assessment - now! 7. It is structural...

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Chapter 13 Assessment 1. Fictional unemployment is temporary experienced by people changing jobs. Seasonal unemployment is linked to seasonal work. Structural unemployment is a situation where jobs exist but workers looking for work do not have the necessary skills for these jobs. Cyclical unemployment is caused by a part of the business cycle with decreased economic activity. 2. The three negative impacts of unemployment are efficiency, inequality, and discouraged workers. 3. Children are more affected because of less benefits and rise of single mothers. 4. Welfare, workfare, and food stamps are sufficient because they help prepare the human/worker for the future. 5. Demand-pull inflation results when total demand rises faster than the production of goods and services. Cost-push inflation results when increases in the costs of production push up prices. 6. Inflation on “necessities” such as food (rice), and gasoline which is happening
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Unformatted text preview: now! 7. It is structural unemployment and/or cyclical unemployment and example is computer and electronic products. 8. Retail trade because most retail trade can be done online now without a middleman. 9. Attached. 10. That there is a change and shift in the economy and it goes in a circle. 11. The person could have been promoted and human capital has increased. 12. Workfare does this by getting workers in a specific sector preparing them for the future. 13. Unemployment would be addressed first because it is increasing and the potential workers need to be prepared to work. 14. Poverty because the more poverty there is, the more social instability there is. There has to be the middle class otherwise the rich and poor would clash. In other words, there needs to be something in between the rich and poor to avoid this inevitable conflict of classes....
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Chapter 13 Assessment - now! 7. It is structural...

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