The unemployment rate dropped to 6.6 per cent in January 2022, which is lower than the pre-pandemic levels of 7.2 per cent in January 2020. However, the reason behind the dip in unemployment is not the addition of jobs — rather, it was caused by the decline in the number of people looking for jobs. The number of unemployed people fell by [6 600 000] in January 2022, as they stopped looking for jobs. Consequently, they were no longer counted as unemployed.” Source: https://www.indiatoday.in/diu/story/unemployment-rate-down-jobs-creation-job-seekers-1915703- 2022-02-21 Accessed: 21/02/22 1. The unemployment figure presented here is the… a) Seasonal unemployment. b) Narrow definition. c) Expanded definition. d) Real unemployment. 2. Demand-pull inflation can occur when… a) There is a shortage of investment and investors bid up interest rates. b) Inventories shrink and consumers bid up prices. c) There is a surplus of resources and so wages are bid up by employers. d) Undesired investment occurs. 3. Which of the following groups is protected from a sudden increase in inflation? a) Borrowers who have loans at fixed interest rates. b) Fixed-income groups. c) Workers who receive fixed wages under the multiyear contracts. d) People who rent their homes under short-term lease agreements in comparison to those who own their homes.
“The
levels of 7.2 per cent in January 2020. However, the reason behind the dip in unemployment is not the
addition of jobs — rather, it was caused by the decline in the number of people looking for jobs. The number
of unemployed people fell by [6 600 000] in January 2022, as they stopped looking for jobs. Consequently,
they were no longer counted as unemployed.”
Source: https://www.indiatoday.in/diu/story/unemployment-rate-down-jobs-creation-job-seekers-1915703-
2022-02-21
Accessed: 21/02/22
1. The unemployment figure presented here is the…
a) Seasonal unemployment.
b) Narrow definition.
c) Expanded definition.
d) Real unemployment.
2.
a) There is a shortage of investment and investors bid up interest rates.
b) Inventories shrink and consumers bid up prices.
c) There is a surplus of resources and so wages are bid up by employers.
d) Undesired investment occurs.
3. Which of the following groups is protected from a sudden increase in inflation?
a) Borrowers who have loans at fixed interest rates.
b) Fixed-income groups.
c) Workers who receive fixed wages under the multiyear contracts.
d) People who rent their homes under short-term lease agreements in comparison to those who own their
homes.
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