Category: Labour Market

A. The natural rate of unemployment
B. cyclical unemployment
C. efficiency wage unemployment
D. frictional unemployment

A. Frictional Unemployment would fall
B. The official unemployment rate would probably understate true unemployment
C. The official unemployment rate would probably overstate true unemployment
D. There would be no impact on the official unemployment rate
E. None of these answers

A. Increase the budget surplus
B. Increase the balance of payment deficit
C. Reduce interest rates
D. Reduce government expenditure

A. of minimum wage laws
B. There are changes in the demand for labour among different firms.
C. Of unions
D. All of these answers
E. Efficiency wages may hold the wage

A. The upward accelerator
B. The downward multiplier
C. The upward PPF
D. The downward mpc

A. Occupational immobility
B. Cyclical unemployment
C. Structural immobility
D. Geographical immobility

A. People lack information
B. People do not want to work
C. People do not have the right skills to work
D. People cannot afford to move location

A. Involuntary unemployment
B. Cyclical unemployment
C. Voluntary unemployment
D. A fall in aggregate demand

A. Increased training
B. Providing more information
C. Helping individuals to move location to find work
D. Increasing spending on existing industries

A. Labour costs are a high percentage of total costs
B. Demand for the final product is price inelastic
C. It is relatively easy to substitute capital for labour
D. There are many substitutes for the final product