Question : _____________________ refers to a situation in which all those people, who are willing and able to work at the existing wage rate, get work without any undue difficulty.

Option 1: Frictional employment

Option 2: Structural employment

Option 3: Full employment

Option 4: Involuntary unemployment

Question : ______________ refers to that economic phenomena in which person are able and willing to work at the prevailing wage rate but failed to get work.
 

Option 1: Disguised unemployment
 

Option 2: Seasonal unemployment
 

Option 3: Open unemployment
 

Option 4: None of the above.
 

Question : The natural rate of unemployment refers to the:

Option 1: Rate of unemployment that prevails when the economy is at full employment
    

Option 2: Rate of unemployment that prevails during a recession
  

Option 3: Rate of unemployment that prevails during inflation

Option 4: Rate of unemployment that prevails during deflation

Question : The natural rate of unemployment refers to the unemployment rate:

Option 1: During a recessionary period
  

Option 2: During an inflationary period
 

Option 3: At which there is no cyclical unemployment

Option 4: At which there is maximum employment

Question : It refers to a situation where the aggregate demand is equal to aggregate supply at full employment level.
 

Option 1: Full employment equilibrium 
 

Option 2: Underemployment equilibrium 
 

Option 3: Over full employment equilibrium 
 

Option 4: None of the above.