ECONOMICS (CBSE/UGC NET)

ECONOMICS

BUSINESS CYCLES

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A man with a PhD working as a waiter at Olive Garden about 20-25 hours a week.
A
Employed
B
Unemployed
C
Not in the Labor Force
D
Not Applicable / Not Counted
Explanation: 

Detailed explanation-1: -An employee leaves their current job before finding a new job to replace it. An employee has to move to another location. An employee takes time off to care for a loved one. An employee leaves an unfulfilling position in search of a career change .

Detailed explanation-2: -In other words, it is the percentage of the population that is currently working. The employment-population ratio is calculated as: (Employed √∑ Civilian Noninstitutional Population) x 100.

Detailed explanation-3: -An example of cyclical unemployment is when construction workers were laid off during the Great Recession following the financial crisis of 2008.

Detailed explanation-4: -In economics, a discouraged worker is a person of legal employment age who is not actively seeking employment or who has not found employment after long-term unemployment, but who would prefer to be working. This is usually because an individual has given up looking, hence the term “discouraged".

There is 1 question to complete.