2.1.1 Macroeconomics Section B Part 2 Flashcards
(23 cards)
What is the definition of unemployment?
Unemployment refers to the situation when individuals who are capable of working are unable to find a job.
How is unemployment measured?
Unemployment is measured using the International Labour Organization (ILO) measure.
What are the types of unemployment? List them.
- Cyclical
- Structural
- Seasonal
- Voluntary
- Frictional
What type of unemployment is caused by economic downturns?
Cyclical
What is structural unemployment?
Structural unemployment occurs when there is a mismatch between the skills of the workforce and the needs of employers.
What type of unemployment is related to changes in the seasons?
Seasonal
Fill in the blank: Unemployment that occurs when individuals choose not to work is called _______.
Voluntary
What is frictional unemployment?
Frictional unemployment occurs when individuals are temporarily unemployed while transitioning from one job to another.
What is the definition of unemployment?
Unemployment is the situation when individuals who are capable of working are unable to find a job.
What are the four main types of unemployment?
The four main types of unemployment are frictional, structural, cyclical, and seasonal unemployment.
True or False: Frictional unemployment occurs when a worker is temporarily unemployed while transitioning between jobs.
True
Fill in the blank: __________ unemployment is caused by changes in the economy that create a mismatch between skills and jobs.
Structural
Which type of unemployment is typically associated with economic recessions?
Cyclical unemployment
True or False: Seasonal unemployment occurs when businesses slow down or shut down for a season.
True
What is an example of frictional unemployment?
An individual leaving a job to find a better one.
What type of unemployment is likely to be long-term due to technological advancements?
Structural unemployment
Multiple Choice: Which type of unemployment is influenced by the time of year? A) Frictional B) Structural C) Seasonal D) Cyclical
C) Seasonal
What is the main cause of cyclical unemployment?
A downturn in the economy or a recession.
True or False: An economy can experience all four types of unemployment simultaneously.
True
Fill in the blank: __________ unemployment occurs when individuals are temporarily between jobs.
Frictional
What is a potential solution to structural unemployment?
Retraining and education programs to help workers acquire new skills.
Which type of unemployment is characterized by a consistent annual pattern?
Seasonal unemployment
True or False: Structural unemployment can be reduced through government intervention and job retraining.
True
