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Assume That a Society Consists of Two Types of Workers

question 78

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Assume that a society consists of two types of workers, A and B. For type A, 3 million workers lose their jobs each year, and each one takes a year to find a new one. For type B, 36 million workers lose their jobs each year (3 million per month), and each takes one month to find a new job. Thus, at any given time, 6 million are unemployed in this economy.
a.How many "spells" of unemployment occur each year in this economy?
b.What percentage of the "spells" are only one month long?
c.If you take all the workers unemployed each year and multiply each by the length of his or her unemployment spell, how many "months" of unemployment would there be in this economy each year?
d.Of all the "months" of unemployment, how many are accounted for by the workers unemployed a year at a time?

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Definitions:

Distinctly Different

Clearly not the same; having unique or differing characteristics that set something apart from others.

Developmental Stage

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A developmental psychologist and psychoanalyst known for his theory on the psychosocial development of human beings.

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Industry versus Inferiority is the fourth stage of Erik Erikson's theory of psychosocial development, focusing on the development of skills and competencies during childhood.

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