Question

Mike was hired to wrap gifts during the holiday season, but lost his job after the holidays. This is an example of _____. cyclical unemployment seasonal unemployment structural unemployment

Suppose the economy is shrinking. This means that total output is _____ and total income is _____. decreasing, increasing decreasing, decreasing increasing, increasing

Answer 1

The right answer for the question that is being asked and shown above is that: "seasonal unemployment." Mike was hired to wrap gifts during the holiday season, but lost his job after the holidays. This is an example of seasonal unemployment.

The right answer for the question that is being asked and shown above is that: "decreasing, decreasing."

Answer 2

seasonal unemployment

decreasing/decreasing

Seasonal unemployment is the result of varying the pace of a particular sector of the economy over time. For example, the case of Mike, who was hired to work in a store at the end of the year, when consumers buy a lot. After Christmas sales decline and unemployment occurs.

If the economy is decreasing, total output decreases and consequently total corporate revenue also declines. This is a sign of stagnation or crisis.