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.
Question : _____________________ refers to a situation in which all those people, who are willing and able to work at the existing wage rate, get work without any undue difficulty.
Question : The natural rate of unemployment refers to the:
Question : ______________ refers to that economic phenomena in which person are able and willing to work at the prevailing wage rate but failed to get work.
Question : The natural rate of unemployment refers to the unemployment rate:
Question : It refers to a situation where the aggregate demand is equal to aggregate supply at full employment level.
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