Quizzes & Activities

Unemployment (Quizlet Activity)

Level:
AS, A Level, IB
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC

Last updated 21 Mar 2020

Here is a twenty-two question Quizlet revision quiz on unemployment.

Our collection of study resources on unemployment can be found here

Key terms on unemployment to revise

  • Capital-labour substitution: Replacing workers with machines to increase productivity and reduce the unit cost of production
  • Cyclical unemployment: Unemployment caused by a persistent lack of aggregate demand for goods and services.
  • Discouraged workers: People out of work for a long time who may give up on job search and effectively leave the labour market.
  • Frictional unemployment: Caused by workers seeking a better job; or who are in-between jobs, or new entrants to the labour market
  • Full-employment: When there enough job vacancies for all the unemployed to take work.
  • Geographical immobility: Difficulty in moving regions / areas to get a job
  • Hysteresis: When a sustained period of low aggregate demand can lead to permanent reduction in the active labour supply
  • Involuntary unemployment: A situation where a worker is willing to work at the going wage rate but cannot find a job
  • Labour force: All people who are of working age, and able and willing to work. It includes both the employed, and the unemployed.
  • Long-term jobless: People who have been unemployed for at least one year.
  • NAIRU: The rate of unemployment consistent with stable inflation.
  • Occupational immobility: Difficulties in learning new skills applicable to a new industry, and technological change
  • Participation rate: % of the population of working age declaring themselves to be in the Labour Force.
  • Phillips Curve: Shows a possible trade-off between inflation and unemployment
  • Real wage unemployment: Theory that wages above the market clearing equilibrium may cause unemployment.
  • Structural unemployment: Unemployment resulting from the decline in an industry which leaves people unemployed because they do not have the skills needed by industries that are growing
  • Under-employment: When people want to work full time but find that they can only get part-time work
  • Unemployment rate: Proportion of the economically active population who are unemployed.
  • Unemployment trap: When the prospect of the loss of unemployment benefits dissuades those without work from taking a new job
  • Zero hours contracts: Jobs that do not guarantee a minimum number of working hours each week.

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