A. The macro consequence of unemployment includes...

I lost output for the economy II lost income for the individual worker III a leftward shift in the production possibilities curve. a) I only b) II only c) I and II d) I and III

B. To be officially counted as unemployed, one must be... (4 marks)

I. actively seeking employment II. not employed at a full-time job. III. either not employed or working only part-time a) I only b) II only c) I and II d) I, II and III

C. Nancy returns to school to study medicine. After graduating during an economic boom, she spends six months looking for a job. During this period, she is considered...

a) cyclically unemployed. b) structurally unemployed. c) frictionally unemployed. d) seasonally un employ.