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Please write answers to all parts of the question (a), (b), (c) etc.. below (10 marks) (a) Define Unemployment (1 mark) (b) Define Underemployment (1

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Please write answers to all parts of the question (a), (b), (c) etc.. below (10 marks) (a) Define Unemployment (1 mark) (b) Define Underemployment (1 mark) (c) The 'unemployment rate' is an important key headline indicator, but it has some shortcomings. Discuss some of the shortcomings of using the unemployment rate as an indicator of labour market conditions. (1 mark) (d) What is meant by underutilisation? and what is the underutilisation rate? (1 mark) (e) List the THREE MAJOR Types of Unemployment AND Describe the type of Unemployment that increases the most during a recession (2 marks ) (f) Describe the TWO types of unemployment that we cannot reduce to zero. (4 marks)

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