Unemployment

Types

100

Name the three types of unemployment

Cyclical, structural, and frictional

200

Natural rate of unemployment does not include this type:

Cyclical

300

Somebody being in between jobs is an example of 

Frictional unemployment

400

Discouraged workers are:

not in the labor force

500

Technology replacing certain jobs can cause this type of unemployment:

Structural unemployment

Math/formulas

100

x? + x? = Labor force

Employed + unemployed

200

Formula to find the unemployment rate

Unemployed/labor force x 100

300

Labor force = 100 people

Unemployed people = 13

Find the rate of unemployment

13%

400

Adult population = 1000

Employed population = 600

Not looking for a job = 150

Unemployed but looking for a job = 250

150/750 x 100= 20%

500

Labor force = 120,000 people

Discouraged workers = 6,000 people

Frictionally unemployed = 4,000 people

Structurally unemployed = 2,500 people

What is the rate of unemployment?

5.42 %

Etc

100

Part time workers are 

Employed

200

Full employment means there is no

cyclical employment

300

A sunscreen company lays off a bunch of employees after a new ice age begins. What type of unemployed are these people?

Structural

400

To fight cyclical unemployment, the government would use what type of fiscal policy?

Expansionary

500

A recessionary gap happens when the unemployment rate is (higher or lower?) than the natural rate of unemployment

Higher