Assignment Instructions/ Description
EC2050 myeconlab Homework Questions: The increased unemployment rate in Michigan is _____.
Michigan unemployment tops 15%The U.S. Department of Labor reported that Michigan's unemployment rate in June 2009 rose to 15.2%, becoming the first state in 25 years to suffer an unemployment rate exceeding 15%. Michigan has been battered by the collapse of the auto industry and the housing crisis and has had the highest unemployment rate in the nation for the past 12 months.Source: CNNMoney, July 17, 2009Is this increased unemployment frictional, structural, or cyclical? Explain.The increased unemployment rate in Michigan is _____.
A. structural, frictional, and cyclical, which are all due in part to the downturn in the U.S. economyB. cyclical that arises due to a downturn in the U.S. economy and frictional that arises due to changes in international competitionC. structural that arises due to changes in international competition, and cyclical due to a downturn in the U.S. economyYour answer is correct.D. cyclical only, and is due to a downturn in the U.S. economyE. frictional that arises due to normal labor turnover
Post a Comment