Question 1
Unemployment implies that in the labor market there is
◦ an excess supply of available jobs.
◦ a shortage in the demand for labor.
◦ a shortage in the supply of labor.
◦ an excess demand for labor.
Question 2
The employment rate equals
◦ labor force/population.
◦ (labor force - unemployed)/labor force.
◦ (employed - unemployed)/labor force.
◦ unemployed/employed.