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Unemployment and the level of unemployment

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UK unemployment rates and levels of unemployment have an effect on the CurrentAccount of the UK Balance of Payments.

(a) Explain the difference between the rate of unemployment and the level of unemployment.

(b) Explain 4 reasons why there may be an increase in the level of unemployment.

(c) Explain one reason for the UK Trade in Services being in surplus and onereason for the UK Trade in Goods being in deficit.

(d) Other than the Trade in Goods and Trade in Services, describe thecomponents of the UK Current Account.

Reference no: EM131083113

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