Question : A situation in which a person is not willing to work at the existing wage rate.
Option 1: full employment
Option 2: Involuntary unemployment
Option 3: voluntary unemployment
Option 4: none of these
Correct Answer: voluntary unemployment
Solution : The correct answer is (c) voluntary unemployment.
If a person is not willing to work at the existing wage rate, it indicates a voluntary decision to refrain from accepting employment under the current conditions. This could be due to personal preferences, dissatisfaction with the wage offered, or other factors that make the individual choose not to work at the given wage rate.
Involuntary unemployment, on the other hand, refers to a situation where individuals are willing to work but are unable to find employment despite actively seeking it.
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