Assume That a Society Consists of Two Types of Workers

question 14

Essay

Assume that a society consists of two types of workers. 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 unempl oyment would there be in this economy each year?
d. Of all the "months" of unemployment, how many are accounted for by the workers unemployed ayear at a time?

---

Definitions:

Athena Parthenos

A monumental statue of the goddess Athena housed in the Parthenon in Athens, crafted by Phidias in the 5th century BCE, symbolizing wisdom, warfare, and crafts, and renowned for its gold and ivory construction.

Hippodamian Planning

A grid-like urban planning method attributed to the ancient Greek architect Hippodamus, emphasizing order and efficiency.

Priene

An ancient Greek city located in modern-day Turkey, known for its well-preserved ruins and as an example of classical Greek urban planning.

Triglyphs

Architectural elements used in the frieze of Doric order temples, consisting of three vertical grooves which alternate with metopes.