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- 1. Multiple Choice
Which of the following best defines unemployment?
The state of being able to work and actively seeking work, but unable to find employment.
The state of being able to work, but choosing not to.
The percentage of the labour force that is able and actively seeking work, but cannot find employment.
The total number of people who do not work.
- 2. Multiple Choice
Which of the following is not a consequences of rising unemployment?
Increased illness through psychological stress
Upward pressure on average wage levels
Higher rates of emigration, causing reductions in productive capacity.
Increased crime rates.
- 3. Multiple Choice
There are 3.6 million people unemployed out of a labour force of 22 million and a population of 26 million. What is the unemployment rate?
20.85%
18.18%
16.36%
13.84%
- 4. Multiple Choice
If the population is 40 million, with a labour force of 35 million and an unemployment rate of 4%, what is the number of unemployed people?
1.6 million
1.4 million
0.8 million
0.2 million
- 5. Multiple Choice
If the inflation rate was 5% last year and 3% this year, what has occurred?
Demand-pull inflation
Deflation
Disinflation
Inflation
- 6. Multiple Choice
What is the price of the basket of goods in 2016
$78.00
$97.00
$100.00
$104.50
- 7. Multiple Choice
Economic growth is best measured by an increase in __________.
GDP
GNP
Real NNP
Real GDP
- 8. Multiple Choice
What is likely to happen if the population growth rate is greater than GDP growth rate.
Average incomes will rise
Average incomes will fall
Real growth rates will rise
There will be no direct impact on average incomes
- 9. Multiple Choice
Which economic system is most likely to achieve higher income equality?
Mixed-economies
Free market economies
Planned economies
Subsistence economies
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