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I. Give the English equivalents to:

Рабочая сила, процент рабочих, временная безработица, структурная безработица, классическая безработица, безработица вследствие снижения совокупного спроса, добровольная безработица, вынужденная безработица, структура спроса производства, совокупный спрос, полная занятость, уровень полной занятости, денежная масса, ставка реальной заработной платы, ставка равновесной заработной платы, естественная норма безработицы.

II. Match the terms with their definitions:

1. Unemployment

A. the proportion of a country’s total population which makes up the country’s labour force.

2. Unemployment rate

B. a work task or series of work tasks to be performed in order to produce a good or a service.

3. Labour force

C. the pay made to an employee for the use of his or her labour as a factor of production. It is usually paid on a weekly basis and it will depend on the hourly wage rate and the number of hours which constitute the basic working week.

4. Participation rate

D. the money payment made to a worker for each “unit” of his or her labour input, usually measured either on an hourly time basis, or for each unit of output produced.

5. Wage rate

E. unemployment which is due to workers refusing to take paid jobs because they consider that the wage rate for such jobs are too law, particularly in relation to the employment and/or other social security benefits they are currently receiving.

6. Natural rate of

unemployment

F. the non-utilization of labour resources, as a result of which the actual output of the economy is below its potential gross national product.

7. Wage

G. the total number of workers available for employment in a country. It comprises those people currently working as employees, the self-employed and people currently unemployed.

8. Job

H. the general rate of unemployment which is consistent with a stable rate of inflation.

9. Voluntary

unemployment

I. unemployment which is due to workers being unable to find paid jobs even though they are prepared to work at current wage rates because there are insufficient jobs available due to recession, or because they don’t have the necessary skills to perform available work.

10. Involuntary

unemployment

J. the number of unemployed workers expressed as a percentage of a country’s labour force.

III. Answer the following questions:

1. What is labour force?

2. What is unemployment rate?

3. Who is considered to be unemployed?

4. How do economists classify unemployment?

5. How is functional unemployment characterized?

6. Who becomes a victim of structural unemployment?

7. What does demand-deficient unemployment refer to?

8. How is classical unemployment described?

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