Unemployment

Front

Those who are willing and able to work at the current wage rate but do not have a paid job

Back

Involuntary unemployed

Front

Those who are not willing and able to work at the current wage rate and do not have a job.

Back

Voluntary unemployed

Front

Unemployment caused by an imbalance between the skills of workers and the requirements of employers

Back

Structural unemployment

Front

Short-term temporary unemployment caused by people being temporarily between jobs or entering the job market for the first time

Back

Frictional unemployment

Front

Unemployment caused by a downturn in economic activity

Back

Cyclical unemployment

Front

Demand for labour comes from: Producers, Consumers, Government

Back

Producers

Front

Supply of labour comes from?

Back

Households

Front

Those who are willing and able to work at the current wage rate and have a paid job

Back

Employed

Front

An increase in business confidence will cause what change?

Back

Increase in AD

Front

An increase in income tax will cause what change?

Back

Decrease in AD