CHAPTER 20 SECTION 1 QUESTIONS

1.People being in between jobs, not having enough skill to match the job available, the company shuts down for a certain season, recessions & depressions.
2.Harvest schedules, demand for holiday workers, or vacations.
3.Cyclical unemployment is when unemployment goes up during recessions and depressions and goes down when the economy improves.
4. Globalization is the shift from local to global markets as countries seek foreign trade and investment.
5.A “normal” economy would still experience seasonal, frictional, and structural unemployment.
6.Frictional Unemployment: unemployment that happens when people must search for a long time to find a job. Quitting a big job to move to a tinier space of a job. Structural Unemployment: workers do not have the skills needed for the jobs that are available. Not having technological experience.
7.Edwin is going through cyclical unemployment because now that the economy is booming, more and more people are getting a job in the business, so that leaves less jobs for others.

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