The number of people able/willing to work but unable to find a paying job

Why does the Government spend less on Social Welfare if there is full employment

Less people are unemployed needing social welfare payments

What is the formula for calculating unemployment rate?

Number of unemployed / Labour force x 100

How does the Government assist people that are unemployed

Provides basic income through social welfare (Jobseekers Benefit)

Why is full employment not 0% unemployment

There will always be people changing jobs

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JC Business 3.9 Economic Indicators: Employment

22 termsStudBud Administration2,951 plays

This Quiz covers the learning outcome 3.9 on Economic Indicators for employment on the Junior Cycle Business Studies Specification

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Questions 22

Answers

1
What percentage unemployment is considered full employment?
3-5%
4-6%
5-7%
0%
2
The benefits of full employment and negatives of high unemployment are the same
False
True
3
Define unemployment
The number of people able/willing to work but unable to find a paying job
The number of people unable to find a paying job
The number of people not actively looking for a job, but are able to work
4
The labour force is defined as all people aged over 16 who are willing and able to work.
True
False
5
The percentage of labour force who are willing and able to work but are without job.
Employement rate
unemployment rate
Price stability
Economicaly active
6
Which of the following are benefits of full employment
Increase in demand for goods and services
Increase in Tax Revenue
Less Government spending on social welfare
All of the above
7
The labour force is made up of those people who are unemployed AND those who are employed.
False
True
8
Why does the Government spend less on Social Welfare if there is full employment
Less people are unemployed needing social welfare payments
People become embarrased to claim social welfare
The Government make it harder to claim social welfare payments
The Government lowers the rate of social welfare payments
9
Which of the following are negatives of high unemployment
Increase in Tax Revenue
Increase in demand for goods and services
Less Government spending on social welfare
None of the above
10
Social Problems usually increase when unemployment is high
False
True
11
What is the formula for calculating unemployment rate?
Labour force / Number of unemployed x 100
Labour Force / Adult Population x 100
Number of unemployed / Labour force x 100
Number of Unemployed / Adult population x 100
12
How does the Government assist people that are unemployed
Gives them a job
Calls to their home regularly to see if they are ok
All of the above
Provides basic income through social welfare (Jobseekers Benefit)
13
Ben is in the Army, is he in the labour force?
No
Yes
14
Why is full employment not 0% unemployment
There will always be people changing jobs
Employment stats are usually wrong
Full employment is defined at 0% unemployment
0% unemployment is impossible due to Government Policies
15
Generally we want unemployment to be
High
Low
Unpredictable
Rapidly Changing
16
Why does tax revenue increase for the Government when there is full employment
All of the above
People are more likely to be able to buy capital items like cars or houses
People have more money to spend on goods and services (VAT increases)
More people are earning money and pay income tax
17
Full employment increases the standard of living
False
True
18
Redundancy happens when employees are no longer required
True
False
19
The labour force does not include which of the following
stay at home parents
children
All of the above
retired people
20
Redundancy, new technology and recessions are all
how the government assists unemployed people
methods of increasing the labour force
reasons for unemployment
negatives of high unemployment
21
Which of these are NOT strategies for reducing unemployment in Ireland
decrease taxation
raise co orporation tax
encourage entrepreneurship
consumption of irish goods
22
An economy is not at full employment unless there is no unemployment.
True
False
Neither
Both

JC Business 3.9 Economic Indicators: Employment Flashcards | StudBud