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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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Provide two examples of seasonal unemployment
Bus drivers for school + ski instructors
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seesaw
Swap points!
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fairy
Take points!
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25
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shark
Other team loses 25 points!
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lifesaver
Give 20 points!
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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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15
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The NRU includes which types of unemployment?
Frictional, structural, seasonal
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baam
Lose 10 points!
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shark
Other team loses 25 points!
Okay!
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rocket
Go to first place!
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baam
Lose 15 points!
Oops!
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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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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15
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Identify TWO social costs of unemployment
Increased crime rate and anti-social behaviour, Indebtedness, social deprivation
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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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seesaw
Swap points!
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rocket
Go to first place!
Okay!
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fairy
Take points!
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25
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thief
Give points!
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25
15
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Minimum wage is associated with which type of unemployment?
Structural
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15
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Provide TWO examples of disparities in unemployment
Gender, race, geographical etc.
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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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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 economic costs of unemployment.
Loss of GDP, loss of tax revenues, loss of income, increased unemployment benefits, greater income inequality
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