Unemployment is a macroeconomic topic, and a low unemployment rate is considered a sign of a healthy economy.a) Define what it means to be “unemployed’ and the labour force’. Explain how the unemployment rate and labour force participation rate are calculated. [5)

      1. Identify and explain the different types of unemployment [6)

  1. Explain how the unemployment rate can increase when additional jobs are being created in the economy, and can decrease when jobs are being lost in the economy.
  2. Explain and use a graph to illustrate how a legally imposed minimum wage can contribute to unemployment.

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