Macro 3 - Unemployment

Question 1

Frictional unemployment

Answer 1

Unemploymnt caused when people move between jobs and enter the job market

Question 2

Employed

Answer 2

People who have a job

Question 3

Seasonal unemployment

Answer 3

Unemployment caused when an industry only operates during certain times of the year

Question 4

Labour force survey

Answer 4

A measure of unemployment - have to have been looking for work in the past 4 weeks and be available for work

Question 5

Claimant count

Answer 5

A measure of unemployment - the number of people recieveing unemployment benefits

Question 6

Inactive

Answer 6

Those neither employed or unemployed

Question 7

Real wage unemployment

Answer 7

Unemployment caused when wages are set above the equilibrium wage rate

Question 8

Unemployment

Answer 8

Those able, available and willing to work but cannot find a job despite an active search for work

Question 9

Structural unemployment

Answer 9

Unemployment caysed by the long term decline of an industry

Question 10

Underemployment

Answer 10

Those who are working part time or zero hour contracts when they would prefer to work full time.