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IB Economics HL 3.3.3 Low Unemployment Questions

Practise 3.3.3 Low unemployment in IB Economics HL by reviewing the concepts and applying them to marked questions.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • Unemployment rate measures unemployment relative to the labour force
  • Measuring unemployment can be difficult
  • Causes include cyclical, structural, seasonal, and frictional unemployment
  • Natural unemployment is the sum of structural, seasonal, and frictional unemployment
  • Costs include personal, social, and economic costs

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Study 3.3.3—Low unemployment conceptsOpen the corresponding Concept lesson for explanations, examples and exam connections.

IB Economics HL 3.3.3 Low Unemployment Questions question 1

[Maximum number: 2]

The information in Table 1 refers to Country A (base year: 2011).

Table 1

Table 1

Calculate the unemployment rate for 2012 and for 2013. Enter your results in Table 1.

The central bank of Country A aims to achieve price stability, defined as "inflation below but close to 2 % annually".

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