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For each case below, please state if the person mentioned is unemployed for Frictional, Structural, or Cyclical reasons. Please state your reasoning for each answer.
(a) Pak decided to quit his job and go back to college and be a full-time student.
(b) Sue lost her job as a consumer service rep as her position was out-sourced to someone in a different country.
(c) John left his job in California and went to New York to look for work on Broadway.
(d) Mary left her job as a teacher in the Midwest to look for a teaching job in California where the pay is better.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
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