Unemployment

What is underemployment?

• When people are not looking for a job

• When people are overqualified for their jobs

• When people work more hours than they want

• When people are working illegally

What is economic inactivity?

• People who are working part-time

• People who are working full-time

• People who are not in work and not looking for a job

• People who are actively seeking work

Which of the following is a cause of structural unemployment?

• Seasonal changes in demand

• High interest rates

• Lack of suitable skills for available jobs

• Temporary layoffs

What is the unemployment trap?

• A temporary phase of unemployment

• A situation where people choose not to work

• A cycle where being unemployed makes it harder to find work

• A situation where people are overqualified for their jobs

What is frictional unemployment?

• Unemployment due to seasonal changes

• Unemployment due to lack of demand

• Unemployment caused by people transitioning between jobs

• Unemployment due to technological advancements

What is cyclical unemployment?

• Unemployment due to seasonal changes

• Unemployment due to technological advancements

• Unemployment caused by people transitioning between jobs

• Unemployment due to lack of aggregate demand

What is the natural rate of unemployment?

• The rate of unemployment when the economy is in recession

• The rate of unemployment when the economy is booming

• The rate of unemployment when the labour market is in equilibrium

• The rate of unemployment when everyone has a job

What is voluntary unemployment?

• When people are laid off due to economic downturns

• When people are overqualified for their jobs

• When people choose not to work despite having job opportunities

• When people are unable to find work despite actively seeking

What is hidden unemployment?

• Unemployment that is not reflected in official statistics

• Unemployment caused by people transitioning between jobs

• Unemployment due to seasonal changes

• Unemployment due to lack of aggregate demand

What is the gig economy?

• A market with only high-paying jobs

• A traditional full-time job market

• A work arrangement with short-term, flexible jobs

• A market with only low-paying jobs