Unemployment

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

• Employed

• Involuntary unemployed

• Voluntary unemployed

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

• Employed

• Involuntary unemployed

• Voluntary unemployed

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

• Employed

• Structural unemployment

• Frictional unemployment

• Voluntary unemployment

• Cyclical unemployment

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

• Employed

• Structural unemployment

• Frictional unemployment

• Voluntary unemployment

• Cyclical unemployment

Unemployment caused by a downturn in economic activity

• Employed

• Structural unemployment

• Frictional unemployment

• Voluntary unemployment

• Cyclical unemployment

Demand for labour comes from

• Producers

• Consumers

• Government

Supply of labour comes from

• Producers

• Households

• Government

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

• Employed

• Structural unemployment

• Frictional unemployment

• Voluntary unemployment

• Cyclical unemployment

An increase in business confidence will cause what change?

• Increase in AD

• Decrease in AD

• Increased AS

• Decrease in AS

An increase in income tax will cause what change?

• Increase in AD

• Decrease in AD

• Increased AS

• Decrease in AS