Describe the major types of unemployment.
What will be an ideal response?
Frictional unemployment is the continuous flow of people from job to job. Seasonal unemployment refers to changes in employment related to seasonal-type of work, such as work at summer resorts or winter ski lodges. Structural unemployment refers to unemployment of workers over lengthy intervals resulting from skill mismatches of prospective employees' abilities and requirements of employers, and from fewer jobs being offered by employers constrained by government regulations and labor market policies. Cyclical unemployment has to do with those unemployed due to a downturn in business activity.
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If N is the working-age population, Q is the labor force, and U is the number of unemployed, then the employment/population ratio is measured as
A) N/Q B) U/Q C) (Q-U)/N D) Q/N
The real interest rate ________
A) is the cost of borrowing adjusted for inflation B) keeps the market for saving and investment in equilibrium C) describes the real benefit of saving D) all of the above E) none of the above
In the aggregate expenditures model, technological progress will shift the investment schedule:
A. downward and increase aggregate expenditures. B. downward and decrease aggregate expenditures. C. upward and increase aggregate expenditures. D. upward and decrease aggregate expenditures.
In which year was Ireland's debt to GDP ratio equal to Portugal's debt to GDP ratio at 100 percent?
A. 2009 B. 2010 C. 2011 D. 2008