WorksheetsEconomics 11 Q4 - Unemployment
Total questions: 10
Worksheet time: 20mins
What does the unemployment rate measure?
The percentage of the labor force that is unemployed
The total population that is unemployed
The number of people unemployed for over a year
The difference between job vacancies and applicants
Cyclical unemployment occurs due to:
Technological advancements
A lack of demand for goods and services
Seasonal variations in production
Job transitions
Frictional unemployment refers to:
Workers who are temporarily unemployed while switching jobs
Unemployment due to long-term economic shifts
Seasonal unemployment in industries like tourism
Unemployment caused by automation
The natural rate of unemployment includes all of the following EXCEPT:
Structural unemployment
Frictional unemployment
Seasonal unemployment
Cyclical unemployment
Which of the following is a social cost of unemployment?
Decrease in tax revenue
Loss of personal income
Increased crime rates
Decline in economic growth
If 5 million people are unemployed and the labor force is 50 million, the unemployment rate is:
5%
10%
15%
20%
If the unemployment rate increases from 5% to 8%, and the labor force remains constant at 60 million, how many more people are unemployed? This formula was not given in class, but you shall know it. Apply this formula: Labor force × (New rate - Old rate)
1.8 million
1.5 million
2 million
3 million
If the labor force participation rate is 70% and the working-age population is 200 million, the labor force is:
70 million
140 million
200 million
150 million
If structural unemployment accounts for 3%, frictional unemployment for 2%, and seasonal unemployment for 1%, the natural rate of unemployment is:
3%
5%
6%
7%
The unemployment rate decreases from 10% to 8%, and the labor force is 50 million. How many people found jobs? This formula was not given in class, but you shall know it. Apply this formula: Labor force × (Old rate - New rate)
1 million
2 million
3 million
4 million
