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WorksheetsYear 12 Economics AOS 2 [7] Employment
Total questions: 20
Worksheet time: 8mins
What is the formula for the unemployment rate???
=(labor force/unemployed)*100%
=(GDP*labor force)/100%
=(unemployed/labor force)*100%
none of them
Which is not a type of unemployment?
frictional
functional
cyclical
structural
In which type of unemployment do workers find it hard to obtain new jobs without retraining, gaining additional education, or relocating??
cyclical
frictional
structural
all of them
What is the natural rate of unemployment (NRU)?
is defined as the percentage of unemployed workers in the total labor force
is defined an economy if there were no cyclical unemployment. In other words, it's frictional unemployment plus structural unemployment.
refers to an overall increase in the Consumer Price Index (CPI),
none of them
The unemployment rate is a(n)
leading indicator
coincidental indicator
lagging indicator
unreliable
Sarah is a forty year old investment banker who was laid off six months ago. She decided to switch careers and has spent those six months figuring out what to do next instead of applying for jobs in the banking industry.
Structurally Unemployed
Employed
Frictionally Unemployed
Not a part of the labor force
Jim lost his job as a stock broker during the recession in 2008. He was unable to find a new position until 2010. During 2008-2010 Jim experienced what kind of unemployment?
Cyclical
Structural
Seasonal
Frictional
Sum of the employed and the unemployed
Employed
Unemployment
Labor Force
Which of the following is a type of Structural Unemployment that happens when consumers stop buying one product in favor of another?
Lack of Education
Changes in Consumer Demand
Globalization
Discovery of New Resources
Which of the following causes of Structural Unemployment happens when people who drop out of school or fail to acquire the minimum skills needed for today's job market?
Lack of Education
Changes in Consumer Demand
Development of New Technology
Globalization
Are discouraged workers included in the unemployment rate?
No because they are not actively looking for work
Yes because they don't have a job
What do you have to do to be counted in the unemployment rate?
Not have a job but looking for one in the past four weeks
Not have a job and not be looking
Have a job but looking for another one
Not have a job because you're under the legal age to work in your specific state
If an economy is at its Natural Rate of Unemployment...
Only Cyclical Unemployment would be present
There would be no frictional unemployment
Only frictional and structural unemployment would be present
Everyone is working Everyone is working
Which of the following best measures 'UNDEREMPLOYMENT'?
The unemployment rate
The participation rate
The underutilization rate
The rate of economic growth
