Understanding Unemployment and Full Employment Concepts
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Understanding Unemployment and Full Employment Concepts

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Questions and Answers

What is the unemployment rate?

  • The number of unemployed people divided by the total population
  • The number of unemployed people divided by the number of employed people
  • The number of unemployed people divided by the working-age population
  • The number of unemployed people divided by the labour force times 100 (correct)

    • Which term refers to those who are technically unemployed but are not included in the official unemployment measurement?

  • Claimant count
  • Full Employment
  • Hidden Employment (correct)
  • Underemployment

    • What are some personal costs associated with unemployment?

  • Higher self-esteem
  • Improved family relationships
  • Increased income to individuals
  • Stress, low self-esteem, poverty (correct)

    • Which economic cost is associated with unemployment?

    <p>Loss of GDP</p> Signup and view all the answers

    What is underemployment in an economy?

    <p>The underutilization of labor resources which limits productivity</p> Signup and view all the answers

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