ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The number of people over 18 who do not have a job but are not actively seeking employment.
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The number of people over 16 who do not have a job but are actively seeking employment.
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Either A or B
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None of the above
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Detailed explanation-1: -In simple terms, the unemployment rate for any area is the number of area residents without a job and looking for work divided by the total number of area residents in the labor force.
Detailed explanation-2: -People are classified as unemployed if they meet all of the following criteria: They do not meet the definition of “employed” above; They are available for work; and. They have made specific efforts to find employment some time during the prior four weeks.
Detailed explanation-3: -EFFECTS OF UNEMPLOYMENT IN INDIA 1) Wastage of man power resource. 2) People who are an asset for the economy turn into a liability. 3) There is a feeling of hopelessness and despair among the youth. 4) People do not have enough money to support their family and decline in the health condition.
Detailed explanation-4: -Percentage of employed individuals = Number of people working / Working-age population x 100. Total percentage of unemployed = Unemployed individuals / Working-age population x 100. Unemployment rate = Total number unemployed / Total number in labor force x 100. 13-Jan-2021