The main type of unemployment referred to by the Classicals:
(a) Voluntary
(b) Involuntary
(b) Both
(d) None
Unemployment that is caused by a mismatch between the composition of the labor force (in terms of skills, occupation, industries, or geographic location) and the make-up of the demand for labor is called:
(a) Real wage
(b) Deficient-demand
(c) Frictional
(d) Structural
Natural rate of unemployment increases due to
(a) General downturn in business activity
(b) Changes in the labor market
(c) Structural changes in the economy
(d) Frequent changes of jobs by labor
The main type of unemployment referred to by the Keynesian:
(a) Voluntary
(b) Involuntary
(b) Both
(d) None
Related: Mathematics aptitude test questions and answers
Unemployment that arises when there is a general downturn in business activity is known as:
(a) Frictional
(b) Structural
(c) Cyclical
(d) Disguised
During the recessionary phase of a business cycle:
(a) The natural rate of unemployment will increase dramatically
(b) Potential national income will exceed actual national income
(c) Actual national income will exceed potential national income
(d) The real rate of interest will exceed the nominal rate of interest
The main type of unemployment referred to by the Post-Keynesians:
(a) Voluntary
(b) Involuntary
(b) Natural rate
(d) None
If the actual rate exceeds the natural rate of unemployment, then:
(a) Actual output of the economy will fall below its potential
(b) Production will increase more than potential
(c) Consumption of goods decreases
(d) Both (a) and (c) above
Related: largest Stock markets in the World
The concept of disguised unemployment is developed by:
(a) Keynes
(b) Nurkse
(b) Adam Smith
(d) Samuelsson
Unemployment that arises due to a regional occupational pattern of job vacancies, which does not match the pattern of workers availability and suitability, is known as:
(a) Frictional
(b) Structural
(c) Cyclical
(d) Demand pull
The main reason for frictional unemployment is :
(a) Lack of opportunities
(b) Low wage
(b) High cost
(d) Market imperfection
Related: quiz Advertising
Disguised unemployment means:
(a) Unemployment in agriculture
(b) Unemployment due to recession
(c) Unemployment due to downturn in business activity
(d) Marginal Productivity of Labor (MPL) is zero
