The following table shows data on frictional, cyclical, structural, and total un

Question

The following table shows data on frictional, cyclical, structural, and total unemployment for ain economy. Rate (Percent) 1.75 Unemployment Type Frictional Cyclical Structural Total Unemployment 3.50 6.25 38. According to the above table, Cyclical Unemployment must be equal to b. 1.00 C. 1.25 d. 2.00 39. According to the above table, this economy is currently experiencing a. an economic recession b. an economic expansion c. a trough d. There is not enough information to answer this question 40. According to the above table, this economy is currently producing a. above their production possibilities b. on their production possibilities frontier c. below the production possibilities frontier d. There is not enough information to answer this question.

Explanation / Answer

Solution

38. Total Unemployment = Cyclical + Frictional + Structural

6.25 = Cyclical + 1.75 + 3.50

Cyclical = 6.25 - 1.75 + 3.50

= 1.00

Option B. 1.00 is Correct Answer .

For 39 and 40 Option D. there is not enough information to answer this question . is Correct Option

Reason For 39 Economic Growth and Profit information not given and For 40 Nothing mention Llike PPF and Producing Factor thats why Option D is Correct Option

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