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3. Match each unemployment term with its description: (3 marks) Term Description Matching Term A. Underemployment Unemployed workers don't have the right skills for the
3. Match each unemployment term with its description: (3 marks) Term Description Matching Term A. Underemployment Unemployed workers don't have the right skills for the jobs available B. Seasonal unemployment People between jobs while switching jobs/careers. C. Frictional unemployment Workers are working at jobs below their qualifications. D. Discouraged workers Golf course workers are out of work in winter. E. Cyclical unemployment Unemployed workers quit looking for work and leave the labour force. F. Structural Auto workers are laid off when cars aren't selling. unemployment 4. Calculate the participation rate and the unemployment rate using the following data. (2 marks) Working: 100.000 Looking for Population age 15+: 150,000 work: 5,000 Participation Rate: Unemployment Rate: 5. Draw a diagram of the circular flow of an economy including all the major players. (2 marks)
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