Question : Which of the following statement are true?
- As per Keynesian theory in an economy, full employment can never exist.
- According to Keynesian theory of employment, the state of full employment is obtained only when the economy is in equilibrium.
Option 1: Both are true.
Option 2: Both are false.
Option 3: Statement 1 is true, statement 2 is false.
Option 4: Statement 1 is false, statement 2 is true.
Answer (1)
25th Jan, 2024
Correct Answer:
Both are false.
Solution :
Full employment can exist when all those who are willing to work gets work. There is no involuntary unemployment.
Equilibrium can be achieved at less than or more than full employment level also.
Hence, Option B is correct.
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