Inflation/Unemployment

Which of the following statements would be classified as “full employment’?

• Everyone who wants to work has a job

• Approximately 95% of people have a job

• People who have been hunting for a job for a long time

• Everyone who wants to work have full time jobs

Refers to an increase in the general price level associated with an increase in the cost of production.

• Supply Inflation

• Cost Push Inflation

• Imported Inflation

• Demand Pull Inflation

_______ occurs when people are in between jobs, entering and reentering the labor force.

• Cyclical unemployment

• Technological unemployment

• Frictional unemployment

• Seasonal unemployment

Farm helpers are unemployed when the cropping season is over.

• frictional

• cyclical

• structural

• seasonal

Who among the following would be considered as unemployed?

• A graduating student of legal age to work

• An entrepreneur in the process of starting a new business

• A secretary who has resigned from work & looking at job ads

• A housewife running 2 internet shops at the same time

When individuals lose jobs due to a decline in the economy (aggregate demand), often during an economic recession.

• Structural Unemployment

• Cyclical Unemployment

• Frictional Unemployment

• Seasonal Unemployment

Individuals are unemployed due to a lack in skills that modern industries need, change in technology.

• Cyclical Unemployment

• Frictional Unemployment

• Structural Unemployment

• Seasonal Unemployment

Sum of the employed and the unemployed

• Employed

• Unemployment

• Labor Force

When individuals are searching for greener pastures is considered what type of unemployment?

• frictional

• cyclical

• structural

• seasonal

Which of these is NOT a characteristic of an unemployed person?

• He/she does not work

• He/she has made specific efforts to find a job

• He/she is laid off from a job in the succeeding months

• He/she is undergoing a career change