Which of the following groups is included in the labor force? full-time students

Question

Which of the following groups is included in the labor force? full-time students military personnel O employed persons QUESTI 10 points Save Answer What type of unemployment occurs when a firm decides to outsource customer service jobs? O structural O frictional cyclicall QUESTI 10 points Save Answer What is the macroeconomic cost of social stress O inflation increased national debt QUESTI 10 points Save Answer The natural rate of unemployment only includes which two types of structural and seasonal structural and cyclical frictional and cyclical frictional and structural

Explanation / Answer

ANSWER:

1) Employed persons as the other three are not included in the labor force as labor force includes peoplke who are unemployed as well as unemployed but does not include people who are not looking for jobs or whoare not working.

2) structural unemployment and the reason is definition as in structural unemployment when skills are no longer required or if there has been an nationalization of the industry or it has been outsourced.

3) national production decreases because less labor is availabler to produce and to provide service.

4) natural rate of unemployment occurs when labor and resource markets are in equilibrium and it includes frictional and structural unemployment as this happens when the economy is expanding in an efficient manner.

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