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- 1. Multiple Choice
Those who are willing and able to work at the current wage rate but do not have a paid job
Employed
Involuntary unemployed
Voluntary unemployed
- 2. Multiple Choice
Those who are not willing and able to work at the current wage rate and do not have a job.
Employed
Involuntary unemployed
Voluntary unemployed
- 3. Multiple Choice
Unemployment caused by an imbalance between the skills of workers and the requirements of employers
Employed
Structural unemployment
Frictional unemployment
Voluntary unemployment
Cyclical unemployment
- 4. Multiple Choice
Short-term temporary unemployment caused by people being temporarily between jobs or entering the job market for the first time
Employed
Structural unemployment
Frictional unemployment
Voluntary unemployment
Cyclical unemployment
- 5. Multiple Choice
Unemployment caused by a downturn in economic activity
Employed
Structural unemployment
Frictional unemployment
Voluntary unemployment
Cyclical unemployment
- 6. Multiple Choice
Demand for labour comes from
Producers
Consumers
Government
- 7. Multiple Choice
Supply of labour comes from
Producers
Households
Government
- 8. Multiple Choice
Those who are willing and able to work at the current wage rate and have a paid job
Employed
Structural unemployment
Frictional unemployment
Voluntary unemployment
Cyclical unemployment
- 9. Multiple Choice
An increase in business confidence will cause what change?
Increase in AD
Decrease in AD
Increased AS
Decrease in AS
- 10. Multiple Choice
An increase in income tax will cause what change?
Increase in AD
Decrease in AD
Increased AS
Decrease in AS
- 11. Multiple Choice
An increase in oil prices will cause what change?
Increase in AD
Decrease in AD
Increased AS
Decrease in AS
- 12. Multiple Choice
An increase in worker productivity?
Increase in AD
Decrease in AD
Increased AS
Decrease in AS
- 13. Multiple Choice
An increase in worker productivity?
Increase in AD
Decrease in AD
Increased AS
Decrease in AS
- 14. Multiple Choice
An increase in the min wage causes involuntary unemployment to
Increase
Decrease
Stay the same
- 15. Multiple Choice
Why does an increase in the min wage cause the quantity demanded for labour to fall?
Producers don't require as many workers
Producers are less willing and able to employ as many workers as their costs of production has increases
Less people are willing to work
Less people are able to work
- 16. Multiple Choice
Consumption spending is affected by what factors?
Exchange rate
Consumer confidence
Business confidence
Interest rates
Income tax
- 17. Multiple Choice
Investment spending is affected by what factors?
Exchange rate
Consumer confidence
Business confidence
Interest rates
Income tax
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