What is Unemployment

A quick quiz about macroeconimc topic Unemploymen

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  • Created by: Olatunde
  • Created on: 03-11-13 21:08

1. The formula for the unemployment rate is....

  • number of unemployed people divided by the number of people in the economy’s labour force
  • Claimant count number divided by Labour Force survey number
  • The country's labour force over the number of firms in the economy
  • The eligible labour force over the adult population
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2. A person becomes search unemployed as result

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

3. Cyclical Unemployment occurs when....

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

4. What is the consequence of a person being "frictionally unemployed"

  • Increased crime rates
  • Temporary unemployment
  • Falling living standards
  • Falling real wages

5. Seasonal Unemployment is most common in the...

  • The manufacturing industry
  • The tourism and leisure industry
  • The secondary sector
  • The service industry
  • The primary sector
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