Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 28 - Part IX - Unemployment - Problems and Applications - Page 606: 5

Answer

a) Short term unemployment is likely since the weather can change from day to day. b) Long term unemployment is likely since there are probably few other factories in the isolated area. c) Long term unemployment is likely since there is a change in technology, and the stagecoach industry worker would not have knowledge of how the railroad works.

Work Step by Step

d) Short term unemployment is likely since there are likely other restaurants in the area (even more so since a new restaurant opened across the street). e) Long term unemployment is likely since the worker would not have knowledge of how the automated machinery would work.
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