unemployment

Question 1

Shoe leather costs

Answer 1

Shoe leather costs are the costs that people get to minimise their cash holdings during times of high inflation.
the amount of time it takes to look for cheaper prices which is an opportunity cost

Question 2

Sustainable economic growth

Answer 2

growing the economy without harming the environment, society, or future generations.

Question 3

cost push inflation

Answer 3

inflation due to a decrease in AS

Question 4

underemployment

Answer 4

Those who are working part time, on zero hour contracts or on government training schemes but would prefer to be full time.

Those employed in areas under their skill level e.g. a graduate working at a bar

Question 5

Seasonal unemployment

Answer 5

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

Question 6

Occupational immobility

Answer 6

The inability of labour to move from one type of job to another due to a lack of skills

Question 7

Structural
unemployment

Answer 7

unemployment caused by the long-term decline of an industry

Question 8

geographical immobility

Answer 8

the inability to move from one country to another to find a job

Question 9

Frictional
unemployment

Answer 9

unemployment caused by moving between one job and another

Question 10

Unemployment

Answer 10

those who are willing and able to work but cant find a job

Question 11

demand pull inflation

Answer 11

inflation caused by an increase in AD

Question 12

zero hour contracts

Answer 12

when an employee doesn’t have a set amount of hours to work

Question 13

claimant count…

Answer 13

is the number of people claiming benefit allowance

Question 14

International Labour Organisation (ILO)

Answer 14

defines someone as unemployed if they are without a job, want a job and have sought after work in the last four weeks