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Page 1 CPT Section C General Economics Chapter 6 Unit 3 Part 2 of 2 Dr C.Anirvinna Page 2 CPT Section C General Economics Chapter 6 Unit 3 Part 2 of 2 Dr C.Anirvinna a) Open & disguised b) Involuntary c) Frictional d) None of the above Answer (a) Page 3 CPT Section C General Economics Chapter 6 Unit 3 Part 2 of 2 Dr C.Anirvinna a) Open & disguised b) Involuntary c) Frictional d) None of the above Answer (a) a) People are not willing to work at current wage rate b) People are willing to work not able to find the job c) People are not happy with quality of job d) People are willing to work but suffer from lack from market information Answer (b) Page 4 CPT Section C General Economics Chapter 6 Unit 3 Part 2 of 2 Dr C.Anirvinna a) Open & disguised b) Involuntary c) Frictional d) None of the above Answer (a) a) People are not willing to work at current wage rate b) People are willing to work not able to find the job c) People are not happy with quality of job d) People are willing to work but suffer from lack from market information Answer (b) a. More demand for labour b. Less demand for labour c. Less supply of labour d. Wage rate is high Answer (b) Page 5 CPT Section C General Economics Chapter 6 Unit 3 Part 2 of 2 Dr C.Anirvinna a) Open & disguised b) Involuntary c) Frictional d) None of the above Answer (a) a) People are not willing to work at current wage rate b) People are willing to work not able to find the job c) People are not happy with quality of job d) People are willing to work but suffer from lack from market information Answer (b) a. More demand for labour b. Less demand for labour c. Less supply of labour d. Wage rate is high Answer (b) a. More leisure to pe ple & lack of revenue to the government b. More leisure & more revenue c. More leisure & more taxes d. Less leisure and less revenue Answer(a)Read More
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FAQs on MCQ - Unemployment- 2 - Business Economics for CA Foundation
| 1. What is unemployment? |  |
Ans. Unemployment refers to a situation where individuals who are willing and able to work are unable to find suitable employment opportunities. It is a measure of the percentage of the labor force that is without work.
| 2. What are the different types of unemployment? | |
Ans. There are several types of unemployment, including:
- Frictional unemployment: This occurs when individuals are between jobs or searching for their first job.
- Structural unemployment: This occurs when there is a mismatch between the skills and qualifications of job seekers and the available job openings.
- Cyclical unemployment: This occurs due to changes in the business cycle, such as during a recession or economic downturn.
- Seasonal unemployment: This occurs when certain industries or jobs are only available during specific seasons or times of the year.
| 3. What are the causes of unemployment? | |
Ans. Unemployment can be caused by various factors, including:
- Economic conditions: A weak economy or recession can lead to a decrease in job opportunities and higher unemployment rates.
- Technological advancements: Automation and technological advancements can lead to job displacement and unemployment in certain industries.
- Lack of skills: A mismatch between the skills possessed by job seekers and the skills required by available jobs can result in unemployment.
- Government policies: Certain government policies, such as high taxes or excessive regulations, can negatively impact businesses and lead to job losses.
| 4. What are the consequences of unemployment? | |
Ans. Unemployment can have several negative consequences, including:
- Financial difficulties: Unemployed individuals often face financial hardships, as they are unable to earn a regular income to support themselves and their families.
- Mental and emotional stress: The uncertainty and frustration associated with unemployment can lead to mental health issues, such as depression and anxiety.
- Social impact: Unemployment can lead to social isolation, strain on relationships, and increased crime rates in some cases.
- Decreased productivity: High unemployment rates can result in a decrease in overall productivity and economic growth.
| 5. How can unemployment be reduced? | |
Ans. There are several measures that can be taken to reduce unemployment, including:
- Promoting economic growth: Implementing policies that stimulate economic growth can create more job opportunities.
- Investing in education and skills training: Providing education and skills training programs can help individuals acquire the necessary skills for available jobs.
- Encouraging entrepreneurship: Creating a favorable environment for entrepreneurship and supporting small businesses can lead to job creation.
- Implementing supportive labor market policies: Policies such as unemployment benefits, job placement services, and active labor market programs can help individuals find employment.
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