ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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people who are willing to work are unable to find jobs
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many people in the labor force hold two or more jobs
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people are working full-time and hard, yet have a low marginal product
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people work in a free labor market with a very low wage
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Detailed explanation-1: -Underemployment is the term used to designate the situation of those who are able to find employment only for shorter than normal periods-part-time workers, seasonal workers, or day or casual workers.
Detailed explanation-2: -un·der·em·ploy·ment ˌən-dər-im-ˈplȯi-mənt. : the condition in which people in a labor force are employed at less than full-time or regular jobs or at jobs inadequate with respect to their training or economic needs. : the condition of being underemployed.
Detailed explanation-3: -Unemployment is a situation in which people are willing to work and capable to work, but still, they are not getting work. Underemployment, on the other hand, is a situation in which an individual is working much below his potential.
Detailed explanation-4: -The marginally attached are those persons not in the labor force who want and are available for work, and who have looked for a job sometime in the prior 12 months, but were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.