Instructions
Answer any three of the following four questions in the booklet provided in the next ninety minutes. The instructor can clarify the question but cannot comment on the quality of your answer. If you answer four questions and do not cross out any of the answers, the first three questions will be answered. You may not use any electronic devices and your sell phone must remain turned off and out of sight.
1. Describe hidden unemployment and the effect it has on labour market data. How would an economist determine if there is hidden unemployment in the labour market?
2. Explain what is meant by changes in the concentration of employment over time. How did the concentration of employment change over the 20th century in North America.
3. Using the following graph as a starting point, explain the spillover effect and why it is important. What factors might lessen the effect of the spillover.
4. Explain how the Lean Production model changed the way human resources are managed. What effect did this have on the types of jobs employers offered?