The ABS Reports Three Broader Measure of the Unemployment,including I

question 16

Multiple Choice

The ABS reports three broader measure of the unemployment,including i.the under-employment rate.
Ii) the intended labour force underutilisation rate.
Iii) the labour force underutilisation rate.

• A)i and iii
• B)i,ii and iii
• C)i and ii
• D)i only
• E)ii and iii

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Definitions:

Sacrifice Ratio

A measure of the economic cost of reducing inflation, calculated as the percentage of annual output lost per one percentage point reduction in inflation.

Inflation

A general increase in prices and fall in the purchasing value of money.

Output

The total amount of goods or services produced by a company or economy in a certain period.

Inflation Rate

The rate at which the general level of prices for goods and services is rising, thereby eroding purchasing power.