(i) The statement is True.
(ii) The statement is False
(iii) The statement is False
(iv) The statement is True.
(i) It is true that an increase in tourists will boost the business of these unofficial sector businesses, increasing their income and improving their quality of life.
(ii)False, as the proportion of employed and unemployed people in the labour force. Therefore, an increase in American tourists will result in a change in either the unemployment rate or the employment rate, and since both are factors in the labour force, an increase in the labour force is not feasible.
iii) The official unemployment rate is the ratio of the number of unemployed people actively seeking work to the labour force as a whole. Therefore, a rise in jobs in the unofficial sector will reduce unemployment and lower Cuba's official unemployment rate.
Consequently, false statement.
(iv) True, As defined by the term "cyclic unemployment," this is unemployment brought on by changes in the market, particularly during a downturn. The level of employment in the unorganised sector will decline as tourist numbers decline in Cuba, even though they may temporarily be high. As a result, it will worsen Cuba's cyclical unemployment.
COMPLETE QUESTION:
The recent influx of American tourists into Cuba has led many Cuban entrepreneurs to start businesses in the informal market. Classify each of the statements about the informal market in Cuba as true or false. True False Answer Bank Answer Bank
(I) The growth of jobs in the informal market may improve living conditions for many Cubans.
(II) Labor force participation rates will increase in Cuba as more people seek jobs in the informal market.
(III) The creation of jobs in the informal market may lead to higher official unemployment rates in Cuba.
(IV) Growth in the informal market will lead to cyclical unemployment in Cuba.
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