Question : The concept of "residual unemployment" refers to:
Option 1: Unemployment caused by changes in the business cycle
Option 2: Unemployment that remains even at the peak of economic growth
Option 3: Unemployment caused by the lack of job opportunities in rural areas
Option 4: Unemployment caused by the introduction of labor-saving technologies
Correct Answer: Unemployment that remains even at the peak of economic growth
Solution : The correct answer is (b) Unemployment that remains even at the peak of economic growth.
Residual unemployment refers to the level of unemployment that persists in an economy even when it is experiencing overall economic growth and low levels of cyclical unemployment. It represents the portion of unemployment that is not directly related to fluctuations in the business cycle. This type of unemployment is often attributed to structural factors such as skills mismatch, changes in technology, labor market rigidities, or other barriers that prevent the efficient matching of workers with available job opportunities. Residual unemployment is considered more long-term and persistent compared to cyclical unemployment, which fluctuates with the economic cycle.
Question : The concept of "technological unemployment" refers to:
Option 1: Unemployment caused by changes in the business cycle.
Option 2: Unemployment caused by the migration of workers to urban areas.
Option 3: Unemployment caused by the introduction of labor-saving technologies.
Option 4: Unemployment caused by the lack of job opportunities in rural areas.
Question : The concept of "cyclical unemployment" refers to:
Option 3: Unemployment caused by the lack of job opportunities in rural areas.
Option 4: Unemployment caused by the introduction of labor-saving technologies.
Question : The concept of "structural unemployment" refers to:
Option 2: Unemployment caused by the lack of job opportunities in rural areas
Option 3: Unemployment caused by the introduction of labor-saving technologies
Option 4: Unemployment caused by the migration of workers to urban areas
Question : The concept of "jobless growth" refers to:
Option 1: Economic growth without a corresponding increase in employment
Option 2: Economic growth with a significant decrease in unemployment
Option 3: Economic growth without any impact on the labor market
Option 4: Economic growth driven by the services sector
Option 1: Economic growth without a significant increase in employment opportunities
Option 2: Economic growth driven by the agricultural sector
Option 3: Economic growth accompanied by a decrease in labor force participation
Option 4: Economic growth without any negative impact on the unemployment rate
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