HW 3 ECON - ECON 104 INTRODUCTORY MACROECONOMIC ANALYSIS...

This preview shows page 1 - 2 out of 4 pages.

ECON 104 INTRODUCTORY MACROECONOMIC ANALYSIS AND POLICY HOMEWORK 3 (CHAPTER 8) PROBLEMS DUE: WEDNESDAY, FEBRUARY 22, 2012 Same rules as before: 1. You may submit an assignment with one name or with two names. 2. If you and a partner submit the assignment together, you must both be from the same section. You will both receive credit. 3. You must submit the homework assignment in your correct section. 4. The assignment can either be hand-written or typed on a computer—I don’t care as long as I can read it. 5. Assignments will be collected at the end of class on the due date. They must be submitted by the end of the class period. No Late Assignments! 6. Please staple your homework pages together with this page on top. PLEASE CIRCLE YOUR SECTION: 001 (102 FORUM; 1:25 – 2:15 PM) 002 (102 FORUM; 4:40 – 5:30 PM) 005 (100 THOMAS; 3:35 – 4:25 PM) **This homework assignment is due after your first midterm exam . But I am posting it early so you can practice working with the Chapter 8 material.** 1. (a) List and define (in your own words) the three types of unemployment. [6 points] Three types of unemployment are cyclical, frictional, and structural. 1
Image of page 1

Subscribe to view the full document.

Cyclical unemployment (CU) is a type of unemployment when it is not person’s fault that he or she is unemployed. In other words, this type of unemployment is caused by business cycle recession. Theoretically, CU can reach 0% level. Frictional unemployment (FU) is a type of unemployment when people are looking for better jobs that will allow them to show their best knowledge and skills. It is a short-term unemployment that is good for economy. Also, FU can never be at 0%. Structural unemployment (SU ) is a type of unemployment when people cannot find a job because they do not have enough skills and knowledge to match the requirements of the particular type of job their looking for. SU is bad for economy since the process of mismatch of workers with the jobs is constant. SU can never be at 0% as well as FU.
Image of page 2
You've reached the end of this preview.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern