4. Sectoral shifts, frictional unemployment, and job searches Suppose the world price of cotton falls substantially. The demand for labor among cotton-producing firms in Texas will . The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, will . The temporary unemployment resulting from such sectoral shifts in the economy is best described as unemployment.

The temporary unemployment resulting from such sectoral shifts in the economy is best described as frictional unemployment.

This is because it is temporary and people in the affected sector could opt for jobs in other performing sectors of the economy.

Explanation:

Suppose the world price of cotton falls substantially, the following scenario will ensue.

The demand for labor among cotton-producing firms in Texas will reduce .

The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, will also decline .

The temporary unemployment resulting from such sectoral shifts in the economy is best described as frictional unemployment.

Frictional unemployment is seasonal employment that could occur when there is no demand or work period is completed unlike structural unemployment that can last for long.

It is a temporary unemployment situation because workers in the cotton industry could opt for jobs in other performing sectors of the economy.

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

it's d. out with the planting and harvest of the crops.