Unemployment falls to a very low level. Tax receipts rise, but firms report unfilled vacancies and faster wage growth. Which assessment is best?
The government must now run a budget surplus
Low unemployment benefits firms because recruitment becomes easier
Faster wage growth proves productivity has risen by the same percentage
Lower benefit spending and higher tax receipts may be offset by labour shortages and inflationary pressure
29 exam-style questions on OCR GCSE Economics 3.2 Low unemployment, covering 3.2.1 Employment and unemployment, 3.2.2 Measuring unemployment, 3.2.3 Calculate the unemployment rate, 3.2.4 Analyse unemployment figures, 3.2.5 Types of unemployment, and 3.2.6 Causes and consequences of unemployment. Each one has a worked solution and a mark scheme showing where the marks go.