A mask company set up a hospitality tent outside the Olympics arena. Its goal was to eoncourage patrons to view it as an Olympic
1 answer:
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Answer:
cyclical unemployment.
Explanation:
Unemployment rate refers to the percentage of the total labor force in an economy, who are unemployed but seeking to be gainfully employed. The unemployment rate is divided into various types, these include;
I. Cyclical unemployment rate (CU).
II. Frictional unemployment rate (FU).
III. Structural unemployment rate (SU).
IV. Actual unemployment rate (AU).
V. Natural Rate of Unemployment (NU).
A cyclical unemployment can be defined as a type of unemployment which is typically related to changes in the business, economy or industry cycle such as recession, governmental policies etc.
Mathematically, cyclical unemployment rate can be calculated using the formula;
Hence, the increase in unemployment that occurs during recessions and depressions is called cyclical unemployment
Answer
The answer and procedures of the exercise are attached in the following 3 images.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in 3 sheets with the formulas indications.
