MACRO: Chapter 5 (Unemployment)

Below are the effects of unemployment on individuals EXCEPT___________

• Loss of livelihood and income

• Loss of job skills

• Losses in government revenue

• Loss of confidence

The increase in the number of unemployed will cause social problems such as theft and robbery.

• Yes

• No

High unemployment will develop economic growth.

• Yes

• No

Which of the followings would be classified as seasonal unemployment?

• Fresh graduates looking for a job

• Many unskilled workers are laid off because of modern mechanization

• Downswing in a business cycle

• Fisherman unable to catch fish on rainy day

Which of the following statement is FALSE about cyclical unemployment?

• Takes several years to recover

• Lack of jobs that resulted from a downswing in a business cycle or recession

• Job seekers may be temporarily unemployed for a short period of time

• Cyclical unemployment is a matter of serious concern compared to frictional unemployment