Unemployment

What is the unemployment????

• decisions to work based on each individuals' valuation of their own work

• proportion of younger workers in the labor force

• the situation of actively looking for employment but not being currently employed.

• person who is simultaneously an income earner,

What is the formula of unemployment rate???

• =(labor force/unemployed)*100%

• =(GDP*labor force)/100%

• =(unemployed/labor force)*100%

• none of them

How many general types of unemployement in economy?

• 
• 
• 
• 

Which is not the type of unemployment?

• frictional

• functional

• cyclical

• structural

Which type of unemployment consisting of search unemployment and wait unemployment ( for workers who are either searching for jobs or waiting to take jobs in the near future)???

• frictional

• cyclical

• functional

• structural

In which type of unemployment workers find it hard to obtain new jobs without retraining, gaining additional education, or relocating??

• cyclical

• frictional

• structural

• all of them

What is the natural rate of unemployment (NRU)?

• is defined as the percentage of unemployed workers in the total labor force

• is defined an economy if there were no cyclical unemployment. In other words, it's frictional unemployment plus structural unemployment.

• refers to an overall increase in the Consumer Price Index (CPI),

• none of them

Who is the Arthur Okun???

• identifyed the relationship between the unemployment rate and the inflation

• gave definition for cyclical unemployment

• got Nobel Prize in math

• the first who quantify the relationship between the unemployment rate and the GDP gap

What Okun’s law indicate?

• Inflation reduces the “purchasing power” of money

• for each 1 percentage point of unemployment above the natural rate, economy suffers a 2 percent decline in real GDP below its potential GDP

• demand for labor also changes over time.

• none of them

What is the unemploymen rate in Kazakhstan??

• 8%

• 4.9%

• 3.25

• 10.5%