ECONOMICS (CBSE/UGC NET)

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ECONOMICS

INFLATION

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
If a change in income appears permanent such as being promoted to a secure and high paying job, ____
A
then people are likely to consume less.
B
then people are likely to save more.
C
then people are likely to consume more.
D
then people are likely to save less.
Explanation: 

Detailed explanation-1: -Unemployment can be classified as frictional, cyclical, structural, or institutional.

Detailed explanation-2: -Cyclical unemployment is a lack of employment as a result of changes to an economy’s business cycle.

Detailed explanation-3: -There are three main types of unemployment – cyclical, structural and frictional unemployment. In practice, these cannot be measured directly, and they can often overlap, but they provide a useful way of thinking about unemployment.

Detailed explanation-4: -Structural unemployment occurs because workers lack the requisite job skills or live too far from regions where jobs are available and cannot move closer. Jobs are available, but there is a serious mismatch between what companies need and what workers can offer.

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