In the Table Below Are Statistics Showing the Labour Force

question 21

Essay

In the table below are statistics showing the labour force and total employment during year 1 and year 5.Make the computations necessary to complete the table. (a) How is it possible that both employment and unemployment increased?
(b) Would you say that year 5 was a year of full employment?
(c) Why is the task of maintaining full employment over the years more than just a problem of finding jobs for those who happen to be unemployed at any given time?

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Definitions:

Eurozone

The 19 nations (as of 2019) of the 28-member (as of 2019) European Union that use the euro as their common currency. The eurozone countries are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

Exchange Rates

The rate at which one currency can be exchanged for another, influencing international trade and economics.

Monetary Policy

Actions taken by a central bank or financial authority to regulate the supply of money and interest rates in an economy to achieve macroeconomic objectives.

Foreign Exchange Reserves

Assets held by central banks in foreign currencies, used to back liabilities on their own currency as well as to influence monetary policy.