WorksheetsMACRO OBJECTIVES 2
Total questions: 15
Worksheet time: 8mins
The unemployment rate rose to 5% this week in the UK. Which group of people were most affected?
16-24
25-35
35-50
50-65
What do we mean by the unemployment rate?
number of people willing and able to work but not currently employed
proportion of the labour force willing and able to work but not currently employed
proportion of the population willing to work but not currently employed
number of people able to work but not currently employed
How many households are interviewed for the labour force survey?
50,000
100,000
40,000
10,000
30,000
Which group of people are not interviewed in the labour force survey?
16-24
top 5% income earners
vegans
motorists
homeowners
A benefit of the LFS measure of unemployment is......
it is not a sample
it is cheap and easy to calculate
it is not out of date
it is internationally recognised and used across EU
it is free from human error
One reason the claimant count measure usually records lower unemployment levels/rates than the LFS measure is because......
large number of restrictions before accessing benefit
there is no stigma attached to claiming benefits in the UK
The LFS only surveys people who are unemployed
The LFS is only used in boom periods
Which of the following is the most likely reason why you cannot use the claimant count to compare unemployment between countries?
age range for benefits differs between countries
meaning of unemployment differs between countries
restrictions on accessing benefit differs between countries
stigma around claiming benefit differs between countries
Which of the following is not a component of the current account in the balance of payments?
goods balance
services balance
investment income
international transfers
FDI
Which of the following balances has the UK run a deficit for much of the last 30 years?
services balance
financial account balance
goods balance
bank account balance
Which of the following is the most likely reason the UK runs a current account deficit?
low exchange rate
low wages
high productivity
high incomes
leaving the eu
Which of the following is the most likely reason that China has been able to sustain a current account surplus for so long?
low productivity
low wages
strong exchange rate
high incomes
high regulations
What does a base year mean?
where all other variables are compared to and equal to 0
where all other variables are compared to and equals 100
value of one variable relative to another
the first year in a set of data
if GDP per capita increased from £30,000 per year in 2018 to £33,000 per year in 2019 and assuming 2018 as the base year what would the index value for 2019 be?
100
103
130
110
133
A benefit of index numbers is......
you can identify actual values with index numbers
they can simplify data sets when dealing with large numbers
they don't show percentage changes
they are very difficult to calculate
In lessons which one of the following is the most insightful?
Alan
Annie
Millie
Sanjana
Gleb
