Question 1

For which of the following age groups was the unemployment rate in Australia the lowest in 2016?

Accepted Answer

A) 15-19 years. 
B) 25-34 years. 
C) 35-44 years. 
D) 65 years and older 
A) 15-19 years. 
B) 25-34 years. 
C) 35-44 years. 
D) 65 years and older D

Question 2

Unemployment in Australia is:

Accepted Answer

A) significantly higher among older people than younger people. 
B) one of the main causes of poverty. 
C) not the cause of an increase in poverty as unemployed people receive unemployment benefits from the government. 
D) equally distributed across all age groups in society. 
A) significantly higher among older people than younger people. 
B) one of the main causes of poverty. 
C) not the cause of an increase in poverty as unemployed people receive unemployment benefits from the government. 
D) equally distributed across all age groups in society. B

Question 3

How is 'cyclical unemployment' defined?

Accepted Answer

A) Unemployment due to an economic contraction or recession. 
B) Unemployment due to changes in the structure of the economy. 
C) Unemployment that occurs when people are searching for their first job. 
D) Unemployment that occurs when people become discouraged and stop looking for work. 
A) Unemployment due to an economic contraction or recession. 
B) Unemployment due to changes in the structure of the economy. 
C) Unemployment that occurs when people are searching for their first job. 
D) Unemployment that occurs when people become discouraged and stop looking for work. A

Question 4

'Frictional unemployment' would increase when:

Accepted Answer

A) there is a fall in aggregate demand. 
B) workers are replaced by machines and the workers do not have the skills necessary to perform new jobs. 
C) discouraged workers leave the labour force. 
D) the number of individuals who quit their job to find another job increases. 
A) there is a fall in aggregate demand. 
B) workers are replaced by machines and the workers do not have the skills necessary to perform new jobs. 
C) discouraged workers leave the labour force. 
D) the number of individuals who quit their job to find another job increases.

Question 5

Enterprise bargaining is the negotiation of wages and working conditions:

Accepted Answer

A) between trade unions and the government. 
B) at the workplace level. 
C) between employers and the government. 
D) through the compulsory arbitration system. 
A) between trade unions and the government. 
B) at the workplace level. 
C) between employers and the government. 
D) through the compulsory arbitration system.

Question 6

The unemployment rate rises for a time after a recession is over.

Accepted Answer

A) True 
 B)False

Question 7

Unemployment arising from a persistent mismatch between the skills and characteristics of workers and the requirements of jobs is called:

Accepted Answer

A) frictional unemployment. 
B) structural unemployment. 
C) cyclical unemployment. 
D) seasonal unemployment. 
A) frictional unemployment. 
B) structural unemployment. 
C) cyclical unemployment. 
D) seasonal unemployment.

Question 8

Suppose 200 000 people are employed, 25 000 people are unemployed, and an additional 50 000 people are not in the labour force but are of working age. Calculate the labour force participation rate.
_____________________________________________________________________________________________
_____________________________________________________________________________________________

Accepted Answer

The labour force participation rate is c

Question 9

Which of the following is not an incentive for people to provide inaccurate employment information to the Australian Bureau of Statistics (ABS)?

Accepted Answer

A) People are embarrassed about being in low paid jobs. 
B) Some people are employed in illegal activities. 
C) People want to avoid paying taxes on earnings. 
D) People think they might lose unemployment benefits if they declare that they have been working. 
A) People are embarrassed about being in low paid jobs. 
B) Some people are employed in illegal activities. 
C) People want to avoid paying taxes on earnings. 
D) People think they might lose unemployment benefits if they declare that they have been working.

Question 10

In Australia between 1978 and 2016, the net number of:

Accepted Answer

A) part-time jobs and full-time jobs fell. 
B) part-time jobs grew, while full-time jobs fell. 
C) full-time jobs grew, while part-time jobs fell. 
D) part-time jobs and full-time jobs grew. 
A) part-time jobs and full-time jobs fell. 
B) part-time jobs grew, while full-time jobs fell. 
C) full-time jobs grew, while part-time jobs fell. 
D) part-time jobs and full-time jobs grew.

Question 11

Many economists argue that 'frictional unemployment':

Accepted Answer

A) no longer exists due to shortages of labour. 
B) cannot and probably should not be eliminated. 
C) should be eliminated. 
D) prevents the economy from reaching its full-employment output level. 
A) no longer exists due to shortages of labour. 
B) cannot and probably should not be eliminated. 
C) should be eliminated. 
D) prevents the economy from reaching its full-employment output level.

Question 12

When the economy is at 'full employment', everyone who wants a job has a job.

Accepted Answer

A) True 
 B)False

Question 13

Explain what economists mean by 'full employment' and why this rate of unemployment is not zero.
_____________________________________________________________________________________________
_____________________________________________________________________________________________

Accepted Answer

Full employment occurs in the economy wh

Question 14

During periods of rising unemployment, the government receives less tax revenue from individuals and from businesses.

Accepted Answer

A) True 
 B)False

Question 15

Who might be disadvantaged by deregulation of the labour market?
_____________________________________________________________________________________________
_____________________________________________________________________________________________

Accepted Answer

Deregulation of the labour market can in

Question 16

How is the 'labour force participation rate' defined?

Accepted Answer

A) as the working-age population in the labour force 
B) as the working-age population that is unemployed 
C) as the labour force that is employed 
D) as the working-age population that is employed 
A) as the working-age population in the labour force 
B) as the working-age population that is unemployed 
C) as the labour force that is employed 
D) as the working-age population that is employed

Question 17

Explain the changes that have occurred in the level of regulation in the Australian labour market over the past 100 years and discuss the arguments in favour of and against these changes.
_____________________________________________________________________________________________
_____________________________________________________________________________________________

Accepted Answer

Australia has moved from a highly centra

Question 18

'Frictional unemployment' can be defined as unemployed that:

Accepted Answer

A) arises due to changes in technology in the economy. 
B) occurs as the result of a recession. 
C) occurs when people are re-entering the labour force. 
D) occurs when people have not had a job for 12 months or more. 
A) arises due to changes in technology in the economy. 
B) occurs as the result of a recession. 
C) occurs when people are re-entering the labour force. 
D) occurs when people have not had a job for 12 months or more.

Question 19

Minimum wage laws cause unemployment because the legal minimum wage is set:

Accepted Answer

A) below the market wage, causing labour demand to be greater than labour supply. 
B) below the market wage, causing labour demand to be less than labour supply. 
C) above the market wage, causing labour demand to be greater than labour supply. 
D) above the market wage, causing labour demand to be less than labour supply. 
A) below the market wage, causing labour demand to be greater than labour supply. 
B) below the market wage, causing labour demand to be less than labour supply. 
C) above the market wage, causing labour demand to be greater than labour supply. 
D) above the market wage, causing labour demand to be less than labour supply.

Question 20

Which of the following will not lower the official measure of the unemployment rate?

Accepted Answer

A) Older workers taking early retirement. 
B) People losing their full-time jobs and instead are given part-time jobs. 
C) An increase in the number of 'discouraged workers'. 
D) An economic boom. 
A) Older workers taking early retirement. 
B) People losing their full-time jobs and instead are given part-time jobs. 
C) An increase in the number of 'discouraged workers'. 
D) An economic boom.

For which of the following age groups was the unemployment rate in Australia the lowest in 2016?

Unemployment in Australia is:

How is 'cyclical unemployment' defined?

'Frictional unemployment' would increase when:

Enterprise bargaining is the negotiation of wages and working conditions:

The unemployment rate rises for a time after a recession is over.

Unemployment arising from a persistent mismatch between the skills and characteristics of workers and the requirements of jobs is called:

Suppose 200 000 people are employed, 25 000 people are unemployed, and an additional 50 000 people are not in the labour force but are of working age. Calculate the labour force participation rate. _ _

Which of the following is not an incentive for people to provide inaccurate employment information to the Australian Bureau of Statistics (ABS)?

In Australia between 1978 and 2016, the net number of:

Many economists argue that 'frictional unemployment':

When the economy is at 'full employment', everyone who wants a job has a job.

Explain what economists mean by 'full employment' and why this rate of unemployment is not zero. _ _

During periods of rising unemployment, the government receives less tax revenue from individuals and from businesses.

Who might be disadvantaged by deregulation of the labour market? _ _

How is the 'labour force participation rate' defined?

Explain the changes that have occurred in the level of regulation in the Australian labour market over the past 100 years and discuss the arguments in favour of and against these changes. _ _

'Frictional unemployment' can be defined as unemployed that:

Minimum wage laws cause unemployment because the legal minimum wage is set:

Which of the following will not lower the official measure of the unemployment rate?

Economics: Foundations and Models

Choices and Trade Offs in the Market

Where Prices Come From: the Interaction of Demand and Supply

Gdp: Measuring Total Production, Income and Economic Growth

Economic Growth, the Financial System and Business Cycles

Long-Run Economic Growth: Sources and Policies

Inflation

Aggregate Expenditure and Output in the Short Run

Aggregate Demand and Aggregate Supply Analysis

Money, Banks and the Reserve Bank of Australia

Monetary Policy

Fiscal Policy

Macroeconomics in an Open Economy

The International Financial System

Filters

Exam 7: Unemployment

For which of the following age groups was the unemployment rate in Australia the lowest in 2016?

Unemployment in Australia is:

How is 'cyclical unemployment' defined?

'Frictional unemployment' would increase when:

Enterprise bargaining is the negotiation of wages and working conditions:

The unemployment rate rises for a time after a recession is over.

Unemployment arising from a persistent mismatch between the skills and characteristics of workers and the requirements of jobs is called:

Which of the following is not an incentive for people to provide inaccurate employment information to the Australian Bureau of Statistics (ABS)?

In Australia between 1978 and 2016, the net number of:

Many economists argue that 'frictional unemployment':

When the economy is at 'full employment', everyone who wants a job has a job.

Explain what economists mean by 'full employment' and why this rate of unemployment is not zero. _____________________________________________________________________________________________ _____________________________________________________________________________________________

During periods of rising unemployment, the government receives less tax revenue from individuals and from businesses.

Who might be disadvantaged by deregulation of the labour market? _____________________________________________________________________________________________ _____________________________________________________________________________________________

How is the 'labour force participation rate' defined?

'Frictional unemployment' can be defined as unemployed that:

Minimum wage laws cause unemployment because the legal minimum wage is set:

Which of the following will not lower the official measure of the unemployment rate?

Economics: Foundations and Models

Choices and Trade Offs in the Market

Where Prices Come From: the Interaction of Demand and Supply

Gdp: Measuring Total Production, Income and Economic Growth

Economic Growth, the Financial System and Business Cycles

Long-Run Economic Growth: Sources and Policies

Inflation

Aggregate Expenditure and Output in the Short Run

Aggregate Demand and Aggregate Supply Analysis

Money, Banks and the Reserve Bank of Australia

Monetary Policy

Fiscal Policy

Macroeconomics in an Open Economy

The International Financial System

Filters

Explain what economists mean by 'full employment' and why this rate of unemployment is not zero. _ _

Who might be disadvantaged by deregulation of the labour market? _ _