The Economy - Unemployment. Flashcards
1
Q
What is unemployment?
A
Someone who is capable of working and is actively looking for work, but is unable to find any work.
2
Q
Reasons for unemployment?
A
Recessions, depressions, technological improvement, job outsourcing, and voluntarily leaving a job to find another.
3
Q
Benefits of unemployment.
A
Low wage rates, reduced inflationary pressure, reduced environmental damage.
4
Q
Drawbacks of unemployment.
A
Waste of resources, less economic growth, worsens government finance, high crime rates, high divorce rates, poorer health, lower life expectancy.
