What is Unemployment

A quick quiz about macroeconimc topic Unemploymen

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1. Which of these is a CONSEQUENCE of unemploymnent

  • Political Instability
  • Uncontrolled borrowing
  • Lower household income
  • Relocation by foreign firms
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2. Cyclical Unemployment occurs when....

  • A cyclical fall in the price of raw materials causes firms to reduce cost by lowering labour
  • when the costs of production for a firm become to great, due falling demand
  • firms make labour redundant due to demand pull inflation
  • A situation which constant union strikes makes workers unemployed

3. Which of these is a direct cause of unemployment

  • Inflation
  • Budget Deficit
  • Corruption
  • Lack of resources

4. What is unemployment measured by

  • Claimant count and Labour Force Survey
  • Labour Force Survey and Retail Cost Index
  • Real Wages and Claimant count
  • Consumer Price Index and Labour Force survey

5. A person becomes search unemployed as result

  • Seeking a desirable occupation
  • None of the above
  • Searching for jobs
  • Being on the claimant count

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