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11 ECO Labour Markets 1 (PP) Flashcards | StudBud
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11 ECO Labour Markets 1 (PP)
11 ECO Labour Markets 1 (PP)
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1
What is occupational mobility?
The transferability of worker skills from one job to another
The ability of workers to move from one location to another for employment
The physical ability of a worker to perform a job
Another term for the glass-ceiling
2
Who would be classified as unemployed by the ABS?
A carpenter who is on holidays
A part-time nurse who wants to work full-time
A house husband
An office worker recently made redundant who starts a new job next month
3
Which type of work would be recorded in GDP?
A part-time position at McDonald's
Volunteering at Oxfam
Planting & harvesting vegetables at home
A student doing ironing to help out at home
4
What is the unemployment rate in an economy with 60 employed + 20 unemployed persons + a working age population of 200?
33.3%
40%
80%
25%
5
What type of market is the labour market?
Commodities
Product
Wholesale
Factor
6
Alex has quit his job to travel overseas with Brian. What is his employment status?
Employed
Not in labour force
Underemployed
Unemployed
7
Karan works at a gym 2 hours per week but would prefer a full-time role. What is his employment status?
Employed
Not in labour force
Underemployed
Unemployed
8
What will happen to real wages if inflation is rising faster than nominal wages?
Real wages will fall
Real wages will be unaffected
Real wages will rise
9
Which of the following groups is NOT excluded from the labour force?
Full-time students
Casual workers
Members of contemplative religious orders
Retirees
10
What is the demand for labour derived from?
The demand for goods and services
Working conditions
The demand for a living wage
The demand for skilled workers
11
Ms Cameron is on long service leave to travel in Africa. What is her employment status?
Unemployed
Underemployed
Not in labour force
Employed
12
How would an increase in the price of capital affect the demand for labour?
It would increase it
It wouldn't
It would decrease it
13
How many hours of paid work is required for a person to be classified as employed?
1 hour per month
2 hours per month
1 hour per week
35 hours per week
