1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ann [662]
3 years ago
11

Kevin recently lost his job as a dishwasher. Minimum-wage legislation keeps employers from adding more of the low-skill position

s for which he qualifies, so he has been unable to find work. Maria just graduated from college and is looking for a full-time position with an investment banking firm. Simone is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job.
Business
2 answers:
Elena L [17]3 years ago
8 0

Answer:

  1. Kevin: Structural unemployment
  2. Maria: Frictional unemployment
  3. Simone: Cyclical unemployment

Explanation:

<u>Structural unemployment</u> refers to a mismatch between the jobs available and the skill levels of the unemployed. What this means is the an individual does not possess the skills needed for him/her to be employed. As we can see from the scenario above, Kevin is unskilled and the minimum-wage legislation is keeping employers from adding more of the low-skill positions for which he qualifies.

<u>Frictional unemployment</u> refers to the unemployment which exists in an economy due to people being in the process of moving from one job to another. This has nothing to do with whether the individual is unskilled. As we can see from the scenario above, Maria is in the process of looking for a job.

<u>Cyclical unemployment</u> refers to the unemployment that arises when the overall demand for goods and services in an economy is low and cannot support full employment. This means that it occurs when economic growth is slow or when there is an economic contraction. From the scenario above, we can see that the house sales in Simone's area have declined because the region has been going through a recession.

Elanso [62]3 years ago
7 0

Answer:

Kevin recently lost his job as a dishwasher. Minimum-wage legislation keeps employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work.

  • STRUCTURAL UNEMPLOYMENT: results from a mismatch between the individual's abilities and those required by the market, or in this case, the structural inability of the labor market to reach an equilibrium wage that includes the individual.

Maria just graduated from college and is looking for a full-time position with an investment banking firm.

  • FRICTIONAL UNEMPLOYMENT: is a type of voluntary unemployment that takes place when an individual is searching for a new and better job. Both structural and frictional unemployment are part of the natural unemployment rate.

Simone is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job.

  • CYCLICAL UNEMPLOYMENT: results from a decrease in aggregate demand due to a decrease in economic activity (recession), which means that less labor is required to produce aggregate output. This is considered an unhealthy type of unemployment since it happens when the economy is in contraction or has stopped growing and soon will start to contract.  
You might be interested in
You just signed a business consulting contract with one of your clients. The client will pay you $50,000 a year for five years f
My name is Ann [436]

Answer:

$31,046

Explanation:

real interest rate = nominal interest rate - inflation

4% = nominal interest rate - 6% ⇒ nominal interest rate = 10%

if you want to determine the present value of the fifth payment, and you require a 4% real interest rate, the you must use a discount value = nominal interest rate

present value = payment / (1 + rate)⁵ = $50,000 / (1 + 10%)⁵ = $50,000 / 1.1⁵ = $50,000 / 1.61051‬ = $31,046

4 0
2 years ago
Okun’s law suggests that:
slega [8]

Answer:

a. A 1% increase is a positive output gap decreases the unemployment rate by 0.5% 

Explanation:

Okuns law looked at the relationship between unemployment and output empirically.

It states that that for every 1% increase in the unemployment rate, positive output gap falls by roughly 2%.

I hope my answer helps you.

8 0
3 years ago
Fiscal policy lags:_________.
lianna [129]

Answer:

d) may be shorter or longer than monetary policy lags.

Explanation:

Remember, the term policy lags refers generally to the lag or length of time between the time when an economic problem is discovered, like increased unemployment, and the extent to which policy solves the economic problem.

From a general perspective this policy lags in fiscal policy may be shorter or longer than monetary policy lags depending on the political and economic environment of the country.

5 0
3 years ago
A borrower takes out a 30-year adjustable rate mortgage loan for $200,000 with monthly payments. The first two years of the loan
lara31 [8.8K]

Answer:

1003

Explanation:

Given:

Period= 30 years, Loan amount= $200,000,

Payments- Monthly,

Teaser rate for first 2 years = 4%,

Annual payment cap=5%, Composite rate on reset date= 6%

Annual rate for 2 years =4%

Monthly rate will be 4/12 = 0.3333% = 0.003333

n=30years=360 months

Monthly payment for first 2 years = Pr(1+r)^n/((1+r)^n-1)

= 200000\times0.0033\times1.033^{360}/(1.033^{360}-1)

= 954.83

or by Excel function = PMT(0.003333,360,200000,0) = 954.83

Loan balance after 2 years = PV(0.003333,336,-954.83,0) = 192,812.36 or

Balance=A(1+r)^n-PMT\times(1+r)^n-1)/i

=200000(1.0033)^{24}-954.83(1+0.003333)^{24}-1)/0.003333

= 192,812.36

Composite rate is 6% but payment is capped at 5%. So new payment from year 3 is 954.83×1.05=1002.57=1003

6 0
2 years ago
What are new guidelines issued by GAAP for consolidating entities
Brut [27]
Consolidation Rules Under GAAP

The general rule requires consolidation of financial statements when one company’s ownership interest in a business provides it with A MAJORITY OF the voting power- meaning it controls more then 50% of the voting shares
6 0
3 years ago
Other questions:
  • Potential founders assess their additional skills and they tailor their business to their
    7·1 answer
  • The multinational corporation exxon/mobil makes close to the same amount as the gross national income of which nation
    7·1 answer
  • Natalie wants to help customers in the recreation, attractions, and amusement pathway of the Hospitality and Tourism career clus
    12·2 answers
  • Zappos employees are "driven" to participate in charitable activities and feel that giving back to the community is something th
    15·1 answer
  • The supply and demand curves reflect data for a specific brand of sunglasses. Which circumstance can explains the shift of the d
    10·1 answer
  • Which of the steps listed below are part of the procurement process?a. Create transfer orderb. Create requisitionc. Send payment
    6·1 answer
  • Mogul Company ships merchandise to Ski Outfit in a consignment arrangement. The arrangement specifies that Ski Outfit will attem
    10·1 answer
  • Tessellations that use more than one type of regular polygon are called semi-regular tessellations.
    5·2 answers
  • Which of the following statements is generally true about arbitration? Group of answer choices Courts may set aside an arbitrati
    7·1 answer
  • A debit balance is the bank statement indicates?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!