Unemployment and Inflation

A peak in business cycle is indicated by ______ unemployment and _______ output.

• higher ; lower

• lower ; higher

• decreasing ; increasing

• increasing ; decreasing

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

• Cyclical unemployment

• Technological unemployment

• Frictional unemployment

• Seasonal unemployment

This inflation results from an inefficient market or structure of the economy.

• Cost push inflation

• Demand pull inflation

• Divisional inflation

• Structural inflation

Farm helpers are unemployed when the cropping season is over.

• frictional

• cyclical

• structural

• seasonal

When individuals are unemployed due to a change in season, e.g. Santa Claus after christmas.

• Seasonal Unemployment

• Frictional Unemployment

• Structural Unemployment

• Cyclical Unemployment

Sum of the employed and the unemployed

• Employed

• Unemployment

• Labor Force

If a change in income appears permanent such as being promoted to a secure and high paying job, __________________.

• then people are likely to consume less.

• then people are likely to save more.

• then people are likely to consume more.

• then people are likely to save less.

What is the correct formula for calculating the unemployment rate in the US?

• #unemployed/labor force x100

• #labor force/working age population x100

• #unemployed/#employed x100

• #labor force/60,000 (BLS household survey

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