1: The job search framework might be able to explain why: A: Insiders tend to exhibit lower unemployment rates than outsiders B: Unemployment displays a very counter-cyclical pattern over time C: Young workers have much higher unemployment rates than their older counterparts D: Wages tend to adjust pretty quickly to shocks and changes in the labour market E; Structural unemployment can be quite persistent over time

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 25RQ: Would you expect the natural rate of unemployment to remain the same within one country over the...

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Question

1: The job search framework might be able to explain why: A: Insiders tend to exhibit lower unemployment rates than outsiders B: Unemployment displays a very counter-cyclical pattern over time C: Young workers have much higher unemployment rates than their older counterparts D: Wages tend to adjust pretty quickly to shocks and changes in the labour market E; Structural unemployment can be quite persistent over time 2: According to the competitive labour market, unemployment is characterized by which of the following? A: At the transactions wage, there is excess quantity supplied of workers B: An efficiency wage is being paid C: Insiders have negotiated wages that do not favour the interests of outsiders D: An implicit contract is in effect E: Search frictions are in effect Kindly answer both question...and ASAP. Thank you in advance.

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