Macroeconomics; Unemployment and Inflation Test Questions and Answers Latest Update
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Macroeconomics
Institution
Macroeconomics
Macroeconomics; Unemployment and Inflation Test Questions and Answers Latest Update
Employment - Answers the total number of people currently employed, either full time or part time
Unemployment - Answers defined as the total number of people who are actively looking for work but aren't currentl...
Discouraged Workers - Answers nonworking people who are capable of working but have given up
looking for a job given the state of the job market
Marginally Attached Workers - Answers would like to b employed and have looked for a job in the
recent past but are not currently looking for work
Underemployment - Answers the number of people who work part time because they cannot find full
time jobs
Jobless Recovery - Answers a period in which the real GDP growth rate is positive but the
unemployment rate is still rising
(also known as a "growth recession")
Job Search - Answers workers who spend time looking for employment are engaged in this
Frictional Unemployment - Answers unemployment due to the time workers spend in job search
Long-Term Unemployed - Answers unemployed for 27 or more weeks
Structural Unemployment - Answers unemployment that results when there are more people seeking
jobs in a particular labor market than there are jobs available at the current wage rate
(occurs when the wage rate is, for some reason, persistently above the equilibrium wage rate)
Reasons for Structural Unemployment - Answers - minimum wages
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