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16 Jan 2018

19) The unemployment rate is an important economic statistic because: a) People without jobs aren't contributing to a nation's GDP b) Unemployment causes inflation c) Unemployed workers receive welfare, which reduces GDP d) All of the above

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Related questions

Economists, statisticians, and business analysts are interested in the "unemployment rate” because this number indicates an economic system's ability to effectively and productively use an important factor of production. However, many people believe that a government's "official unemployment rate understates a country's ability to find jobs for its people. One of the two reasons highlighted during the lecture was: a) b) c) d) the seasonality effect the cyclicality effect the discouraged worker effect the retirement effect

7) Economists, statisticians, and business analysts are interested in the "unemployment rate” because this number indicates an economic system's ability to effectively use an important factor of production. However, many people believe that a government's "official unemployment rate understates a country's ability to match the skills of its workforce to appropriately productive jobs. The other reason highlighted during the lecture was: a) b) c) d) the mismatch effect underemployment microeconomic underutilisation the factor utilisation gap

12) A factor that contributes directly to improving labour as a factor of production is: a b) c) d) creation of more part-time jobs programs that decrease unemployment better education for more of the population programs which lower the rate of inflation

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