Calculating unemployment

Multiple Select

Unemployment occurs...

(Choose more than one answer)

• Within the curve of the PPC

• During a contraction on the business cycle

• Outside the curve on the PPC

• During an expansion on the business cycle

Multiple Choice

All of the following are examples of people not counted as unemployed EXCEPT:

• Michelle who is a 13 year old looking for a job

• Daniel who stays home taking care of his grandma

• Lewis who gave up looking for a job 2 months ago

• Tommy who recently graduated and wants to work in IT.

Match

Match the following

• Online tax programs make Angela & Oscar's accounting jobs unnecessary.

• Andy Dwyer decides to look for a job in law enforcement

• 200 workers are laid off due to the 2008 Housing Crisis

• Detective Peralta goes on vacation for 2 weeks.

• Everyone in the room who doesn't currently have a job or is looking

Structural

Frictional

Cyclical

Employed

Not Counted

• Structural

• Frictional

• Cyclical

• Employed

• Not Counted

Match

Match the following unemployment rates & correctly measure the health of the economy

• The United states is currently experiencing 14% unemployment

• The United states is currently experiencing 4.5% unemployment

• The United states is currently experiencing 2% unemployment

Recession

Full Employment (Natural Rate)

Expansion

• Recession

• Full Employment (Natural Rate)

• Expansion