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15
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Possible solutions to reduce seasonal unemployment include... (two examples)
Diversify the economy, provide retraining program, Reduce unemployment benefits, Improve information flow of job vacancies.
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15
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Minimum wage is associated with which type of unemployment?
Structural
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banana
Go to last place!
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fairy
Take points!
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25
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rocket
Go to first place!
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baam
Lose 25 points!
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15
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Provide TWO reasons why unemployment might be difficult to measure
Underemployment, hidden employment, voluntary unemployment, disparities
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15
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Provide TWO examples of voluntary unemployment.
This includes people who choose not to work full-time to take care of the elderly or children, as well as people who choose to retire early.
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eraser
Reset score!
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shark
Other team loses 25 points!
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rocket
Go to first place!
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baam
Lose 20 points!
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15
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What is the formula for calculating unemployment?
# unemployed / labor force x 100%
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15
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Provide TWO examples of disparities in unemployment
Gender, race, geographical etc.
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15
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The NRU includes which types of unemployment?
Frictional, structural, seasonal
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15
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Explain TWO policies to reduce NRU
reduce bargaining power of trade unions, reform welfare benefits, reduce barriers in labor mobility, reduce income taxes
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seesaw
Swap points!
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seesaw
Swap points!
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fairy
Take points!
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lifesaver
Give 15 points!
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15
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Provide two examples of seasonal unemployment
Bus drivers for school + ski instructors
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15
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Explain why frictional unemployment is not necessarily bad for an economy
People seeking better job opportunities to find more rewarding jobs
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15
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Identify TWO personal costs of unemployment
Stress, Low self-esteem, Poverty, Family breakdowns
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15
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Provide TWO examples of Underemployment
Highly skilled or qualified people working in low-skilled occupations, Involuntary part-time workers who wish to work full-time
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15
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A deflationary gap is associated with which type of unemployment?
Cyclical unemployment
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