ECONOMICS (CBSE/UGC NET)

ECONOMICS

BUSINESS CYCLES

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

What term is used to describe the percent of the labor force that does not have a job but is currently looking for one?

A	Leading economic indicator
B	Full employment
C	Unemployment rate
D	workforce

Explanation:

Detailed explanation-1: -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-2: -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.

Detailed explanation-3: -Unemployment rate – the percentage of people in the labour force that are unemployed. Participation rate – the percentage of people in the working-age population that are in the labour force.

Detailed explanation-4: -The labour force participation rate is the number of persons in the labour force as a percentage of the working-age population. The labour force is the sum of the number of persons employed and the number of persons unemployed.

Detailed explanation-5: -The unemployment rate is the percentage of the labor force without a job.

There is 1 question to complete.