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.
Last updated
About Macroeconomics
The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
Practise Macroeconomics
1,462 free Macroeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Economics questions like this
Economics is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
Related questions
1. The most widely traded currency in the foreign exchange market is the ?
85% of the world's population lives in developing countries and receives about _____ of the world's income?
A 44-nation survey regrading religions found that_________________?
A bank has excess reserves to lend but is unable to find anyone to borrow the money This will _________ the size of the money multiplier?
A capital account surplus might be expected to cause a current account deficit because the associated ?