Unemployment

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

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

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

• Seasonal Unemployment

• Frictional Unemployment

• Structural Unemployment

• Cyclical Unemployment

When individuals lose jobs due to a decline in the economy 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.

• Cyclical Unemployment

• Frictional Unemployment

• Structural Unemployment

• Seasonal Unemployment

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

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,