Unemployment Review

Front

An unemployment rate of 4% - 6% represent which concept?

Back

full employment

Front

This reflects those who are actively seeking employment but are not currently employed.

Back

unemployment rate

Front

This reflects the sum of those who are actively seeking employment AND those who are currently employed.

Back

labor force

Front

You will always have this because people will always want to change jobs or we will have new graduates entering the market

Back

frictional unemployment

Front

If we had over 5,000 open jobs in our county but not the skilled people to fill them. This is an example of

Back

structural unemployment

Front

Santa's helpers in July would represent (out of work during the summer)

Back

seasonal unemployment

Front

You have the least amount of control over this since it is based on the ups and downs of the business cycle.

Back

cyclical unemployment

Front

As an outdoor lifeguard, you don't have control over your end date, but you expect it and can plan for it.

Back

seasonal unemployment

Front

If Mr. Wynn left his job to go back to college to get his administration degree.

Back

frictional unemployment

Front

Netflix introduces new business model to feature digital media content, former Blockbuster employees are not trained in new technology and are not fit for the job. What type of unemployment does this scenario illustrate? Options: Frictional, Structural, Cyclical, Seasonal

Back

Structural