Part I

You have a choice here: Answer only one of the threeavailable sets of questions below, to earn a total of 10 points. You need not respond to other students, but are welcome to do so.

 

Question Set 1

1.1 What is frictional unemployment?

1.2 Provide examples of people who are experiencing or have experienced this kind of unemployment.

1.3 What causes it to increase?

1.4 How did COVID19 affect frictional unemployment in the U.S.?

 

In addition to your sources, you are encouraged to use the following video:

 

Question Set 2

2.1 What is structural unemployment?

2.2 Provide examples of people who are experiencing or have experienced this kind of unemployment.

2.3 What causes it to increase?

2.4 How has COVID19 affected structural unemployment in the U.S.? Can these effects be long lasting?

 

In addition to your sources, you are encouraged to use the following videos:

 

Question Set 3

3.1 What is “natural” unemployment? 

3.2 Should we expect a healthy economy to experience a zero-unemployment rate?

3.3 Provide at least two arguments in support of why unemployment insurance benefits should be provided.

3.4 Provide at least two arguments in support of either an alternative view, or the view that unemployment insurance benefits produce negative economic incentives and/or consequences.

 

 

Part II 

You must answer all four questions below.

 

Economists, scientists and policy makers were interviewed in this movie to talk about the paradigm shift we are experiencing in the job market, while we embark on the Fourth Industrial Revolution: . Based primarily on the information from this movie, answer the following questions:

 

1) Explain how radical developments in automation and artificial intelligence are changing the future of work. Be specific, and elaborate as much as you can. Write at least two paragraphs with 4-6 sentences in each.

 

2) From watching the movie what is your understanding on how humans can collaborate with robots and automated processes in general to create a better and more equitable job market in the future, a market in which income inequalities are reduced?

 

3) What reactions did you have while watching this movie/video as it pertains to the re-training of the labor force in general, and automobile industry in particular?

 

4) What were some of the most impressive takeaways for you? Could they affect your future in the labor market? List at least three and explain using at least 2-3 sentences for each point.