Macroeconomics Unemployment

Which answer below is NOT a goal of Macro-economics?

• Price Stability

• Economic Growth

• Full Employment

• Stock Market Saturation

Match the following benchmarks to the goals below.

• 4%-6%

• Economic Growth - GDP

• Increase each year.

• Full Employment

• 2%-3%

• Price Stability - Inflation Rate

If Country A has 12000 unemployed people and has 275,000 people in the work force, what is the unemployment rate of this country?

• 4.3%

• 1.9%

• 3.5%

• 44%

Match the following unemployment types

• Temporary unemployment during job search

• Cyclical

• Economic downturns affecting jobs

• Seasonal

• Jobs affected by seasons

• Frictional

• Mismatch between skills and job requirements

• Structural

Tami works at the Regal Movie Theatres. Unfortunately, she did not listen in Economics class and she struggles to work the new movie sound system software that is required of her job. Tami is fired for not having the skills to work her job. What type of Unemployment is this?

• Seasonal

• Cyclical

• Frictional

• Structural

Billy Bob didn't like the way he was treated at Tesla, so he decided to quit and go find a job somewhere else. What type of unemployment is this?

• Frictional

• Seasonal

• Cyclical

• Structural

Caleb, lost his job at River Street Sweets, when the building was destroyed during Hurricane Tami. What type of unemployment is this?

• Structural

• Cyclical

• Seasonal

• Frictional

If you have Full Employment, than you have 0%

• Cyclical Unemployment

• Seasonal Unemployment

• Structural Unemployment

• Frictional Unemployment

What ANSWERS below must be satisfied in order to be considered in the Labor Force?

• Over the age of 16

• Actively looking for work

• Serving in the Military

• In Prison on a 2 year sentence

Unemployment Rate =

• population / # of unemployed X 100

• # of unemployed / # in the civilian labor force X 100

• # in the civilian labor force / # of unemployed X 100