Unemployment means that ?
Correct answer: D. at the going wage rate, there are people who want to work but cannot find work.
- A. there is excess demand in the labour market
- B. there are some people who will not work at the going wage rate.
- C. people are not willing to work at the going wage rate.
- D. at the going wage rate, there are people who want to work but cannot find work.
Explanation
Unemployment exists when people who are willing and able to work at the prevailing wage cannot find jobs. People unwilling to work at that wage are not counted as unemployed under this definition.
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