Term 2 Week 3 Revision Quiz

What are the different ways in which people can be unemployed?

• Voluntary and involuntary

• Temporary and permanent

• Full-time and part-time

• Urban and rural

How is unemployment calculated?

• By counting the number of people without jobs

• By surveying households

• By calculating the percentage of the labour force that is unemployed

• By government estimates only

What can you outline about the different categories of unemployment?

• Cyclical, frictional, and structural

• Urban, rural, and suburban

• Voluntary, involuntary, and temporary

• Economic, demographic, and geographic

Who can be affected by unemployment?

• Only unskilled workers

• Only skilled workers

• Only new graduates

• Anyone in the workforce

What does unemployment refer to in economic terms?

• The condition of having a job and looking for a better one.

• The state of being retired from work.

• The situation where someone is available and actively seeking work but does not have a paid job.

• The process of hiring employees in a company.

Who are included in the 'not in the labour force' category as per the diagram?

• Employed part-time and full-time

• Unemployed individuals looking for jobs

• Retired individuals and those not looking for work due to other reasons

• Working-age population

What does the unemployment rate measure in an economy?

• The total number of people in the country

• The percentage of people who are overqualified for their jobs

• The measure of spare capacity

• The growth rate of the economy

What condition indicates that an economy is operating at full capacity?

• When there is a high unemployment rate

• When everyone who wants to work is employed and can work as many hours as they desire

• When the economy is in a recession

• When the stock market is performing well

Which type of unemployment is characterised by short-term transitions in the labour market and between jobs?

• Frictional unemployment

• Structural unemployment

• Cyclical unemployment

• Seasonal unemployment

What type of unemployment occurs due to changes in the economy that prevent certain skills from being needed as they were before?

• Frictional unemployment

• Structural unemployment

• Cyclical unemployment

• Technological unemployment