#1
Which type of unemployment occurs when individuals are transitioning between jobs?
Structural unemployment
Frictional unemployment
Cyclical unemployment
Seasonal unemployment
#2
Which economist is known for his work on the concept of 'Full Employment'?
John Maynard Keynes
Milton Friedman
Adam Smith
Friedrich Hayek
#3
In economics, what is the natural rate of unemployment?
#4
Which of the following is NOT a type of unemployment?
Inflationary unemployment
Structural unemployment
Cyclical unemployment
Seasonal unemployment
#5
What is the concept of the 'Natural Rate of Unemployment' based on?
Government interventions
Labor force participation
Inherent economic factors
Technological advancements
#6
What is the term used to describe the unemployment rate that exists when the economy is at full employment?
Cyclical unemployment rate
Frictional unemployment rate
Structural unemployment rate
Natural unemployment rate
#7
What does the term 'underemployment' refer to in the context of unemployment?
Working more hours than desired
Working fewer hours than desired
Working at a job below one's skill level
Being self-employed
#8
Which type of unemployment is often associated with changes in technology and industry structure?
Frictional unemployment
Cyclical unemployment
Seasonal unemployment
Structural unemployment
#9
What is the Phillips Curve used to illustrate in the context of unemployment and inflation?
Positive relationship between unemployment and inflation
Negative relationship between unemployment and inflation
No relationship between unemployment and inflation
Positive relationship between unemployment and deflation
#10
Which policy tool is commonly used to reduce unemployment during a recession?
Expansionary monetary policy
Contractionary fiscal policy
Tightening money supply
Reducing government spending
#11
Which of the following is a consequence of long-term structural unemployment?
Rapid economic growth
Inflationary pressures
Persistent income inequality
Stable labor markets
#12
How does the discouraged worker effect influence the official unemployment rate?
Increases the official unemployment rate
Decreases the official unemployment rate
Has no impact on the official unemployment rate
Affects only the long-term unemployment rate
#13
Which factor is primarily responsible for cyclical unemployment?
Changes in technology
Fluctuations in business cycles
Mismatch between skills and job requirements
Seasonal variations
#14
In the Phillips Curve, what does a point on the curve represent?
A specific level of inflation
A specific level of unemployment
A trade-off between inflation and unemployment
An equilibrium point in the economy