CBSE 2024, Set 1

Question

Read the following statements - Assertion (A) and Reason (R). Choose the correct alternative given below:

Assertion (A): Full employment situation refers to absence of involuntary unemployment.
Reason (R): Under full employment situation, all the willing and able bodied people get employment at the prevailing wage rate. A). Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). B). Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A). C). Assertion (A) is true, but Reason (R) is false. D). Assertion (A) is false, but Reason (R) is true.

Edvaya · Accepted Answer

The correct answer is Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).. Full employment means a situation where all those who are able to work and willing to work at the existing wage rate are getting work. Thus, it implies the complete absence of involuntary unemployment. Both the Assertion and the Reason are correct, and the Reason correctly explains the Assertion.

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Economics > Introductory Macroeconomics > Determination Of Income Employment

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