ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the value of all final goods and services produced
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an increase in the general price level
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the percentage of people looking for work that can’t find it
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the economic freedom an economy offers
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Detailed explanation-1: -The unemployment rate measures the share of workers in the labor force who do not currently have a job but are actively looking for work. People who have not looked for work in the past four weeks are not included in this measure.
Detailed explanation-2: -The unemployment rate represents the number of unemployed people as a percentage of the labor force (the labor force is the sum of the employed and unemployed). The unemployment rate is calculated as: (Unemployed ÷ Labor Force) x 100.
Detailed explanation-3: -Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed).
Detailed explanation-4: -The unemployment rate measures: the number of people unemployed divided by the number of people employed. unemployed workers as a percentage of the labor force.
Detailed explanation-5: -Seasonal unemployment happens when people are not able to find jobs during some months of the year. In case of disguised unemployment, people appear to be employed. Unemployment leads to wastage of manpower resource. People who are an asset for the economy turn into a liability.