Economics - module 2 - unit 3 - part 2

How does employment benefit an individual and the economy?

Define unemployment.

What is the working population?

How is the claimant count used to measure unemployment?

How is the Job seekers allowance used to measure unemployment?

Why may some individuals in the working population be out of work?

What are the 4 types of unemployment?

What is structural unemployment?

What is frictional unemployment?

Why may frictional unemployment increase during a recession?

Why may school, college and university leavers find it difficult to get their first job?

What is structural unemployment?

Why may individuals be unemployed over a long period of time?

Why is structural unemployment supply-side?

What is cyclical unemployment?

Why is cyclical unemployment demand-side?

What is the balance of payments on the current account?

What is the difference between a trade deficit and a trade surplus?

What is the trade balance in goods?

What are some examples of visible UK exports and imports?

What are the main reasons for the UK deficit in the trade balance of goods?

What is the trade balance in services?

What services does the UK import and export?

What is the current state of the trade balance in services of the UK?

What is net investment income?

Why is UK households buying shares in microsoft treated as an export?

Why is consumers buying cars made by foreign manufacturers treated as an import?

What is the current state of the net investment income in the UK?

What are transfers?

What is the cause of the UK transfer deficit?

What is the exchange rate?

How does a rise in the exchange rate affect trade prices?

How does a fall in a country's exchange rate affect trade prices?

How does an appreciation of a currency affect supply?

How can an appreciating currency help lower cost push inflation?

How does a depreciation of a currency affect supply?

How can a currency depreciating in value leadnto cost push inflation?