PLEASE ANSWER QUESTION #3, I already got the 1st and 2nd answered. “Describe the

Question

PLEASE ANSWER QUESTION #3, I already got the 1st and 2nd answered. “Describe the different forms of unemployment and which ones can be influenced by gov’t policies.” Consider the graph of a low-skill labor market, where D is the demand for low-skilled workers by business firms, and S is the supply of native-born U.S. workers who offer their labor services in the low-skill labor market. Show the shift that occurs with large-scale immigration of low-skilled workers into the U.S. (increase in supply) What is the effect on the wage rate? (decrease). On overall employment? (increase). On employment of native-born workers? (decrease) Consider the graph of a low-skill labor market, where D is the demand for low-skilled workers and S is the supply of low-skilled workers. The equilibrium wage rate is Wo Label an effective minimum wage WM along the wage axis. Label the new quantity demanded of labor Qn and the new quantity supplied of labor Qs along the employment axis. What is the economic problem that results? (surplus of labor, i.e. unemployment) 3 Describe the different forms of unemployment and which ones can be influenced by government policies. In your answer make sure you are specific about the types of government policies and how they will effect unemployment.

Explanation / Answer

Ans3. Different forms of unemployments are: Structural, Frictional, and Cyclical unemploment.

Among these three Cyclical can be more affected by government. Cyclical lshows that unemployment will exists after economic ups and downs over a period of time, which of course can be taken care by government expansionary and contractionary fiscal policies.

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.