The Great Labor Shortage Crisis | Economics Explained
Interactive Video
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Business, Social Studies, Life Skills
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7th - 12th Grade
•
Hard
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the unemployment rate in the US at the peak of the coronavirus pandemic?
10%
6%
15%
3.5%
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of unemployment is considered 'good' or less harmful?
Seasonal unemployment
Cyclical unemployment
Frictional unemployment
Institutional unemployment
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does NAIRU stand for?
Natural average inflation rate of unemployment
National average inflation rate of unemployment
Non-adjustable inflation rate of unemployment
Non-accelerating inflation rate of unemployment
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential consequence of unemployment falling below the NAIRU level?
Higher wages and inflation
Increased job applications
Lower wages
Decreased inflation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one challenge of maintaining low unemployment according to the text?
Rising unemployment
Decreasing inflation
Reducing job opportunities
Increasing government debt
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is institutional unemployment?
Unemployment due to seasonal changes
Unemployment caused by government policies
Unemployment caused by technological advancements
Unemployment due to economic cycles
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What analogy is used to describe the economic impact of COVID-19?
An unexpected breakup
A natural disaster
A technological revolution
A financial crisis
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