Go to the following website:

http://www.nr.cc.va.us/eco201/pp/M07.htm

 

1  Define the "labor force"

2  How is unemployment defined  ?  Who measures unemployment ?

 

3  What is the difference between discouraged workers and part-time workers with respect to the unemployment rate ?  Explain

 

 

4  Describe and give an example of each of the types of unemployment

 

5  What is full employment  ?  Why is 4-6 % unemployment considered full employment ?

 

6  Define and give an example of underemployment