{"id":134566,"date":"2023-03-17T16:06:51","date_gmt":"2023-03-17T10:36:51","guid":{"rendered":"https:\/\/www.mapsofindia.com\/my-india\/?p=134566"},"modified":"2023-03-17T16:10:26","modified_gmt":"2023-03-17T10:40:26","slug":"under-full-employment-situation-all-willing-and-able-bodied-people-get-employment-at-prevailing-wage-rate","status":"publish","type":"post","link":"https:\/\/www.mapsofindia.com\/my-india\/quiz\/under-full-employment-situation-all-willing-and-able-bodied-people-get-employment-at-prevailing-wage-rate","title":{"rendered":"Under full employment situation, all willing and able bodied people get employment at prevailing wage rate."},"content":{"rendered":"<h2>Question: Under full employment situation, all willing and able bodied people get employment at prevailing wage rate.<\/h2>\n<h3>The correct answer is &#8211;<\/h3>\n<div class=\"group w-full text-gray-800 dark:text-gray-100 border-b border-black\/10 dark:border-gray-900\/50 bg-gray-50 dark:bg-[#444654]\">\n<div class=\"text-base gap-4 md:gap-6 md:max-w-2xl lg:max-w-2xl xl:max-w-3xl p-4 md:py-6 flex lg:px-0 m-auto\">\n<div class=\"relative flex w-[calc(100%-50px)] flex-col gap-1 md:gap-3 lg:w-[calc(100%-115px)]\">\n<div class=\"flex flex-grow flex-col gap-3\">\n<div class=\"min-h-[20px] flex flex-col items-start gap-4 whitespace-pre-wrap\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<h3>The statement is generally true. Under full employment, all individuals who are willing and able to work at the prevailing wage rate can find employment. This means that the unemployment rate is at its natural rate, which is the minimum level of unemployment that can be achieved without generating inflationary pressures. In a full employment situation, there may still be some degree of frictional or voluntary unemployment, which arises from the time lag between individuals searching for jobs and finding suitable employment opportunities. However, involuntary unemployment, where individuals are willing and able to work but are unable to find employment, is absent in a full employment situation.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"flex justify-between\">\n<div class=\"text-gray-400 flex self-end lg:self-center justify-center mt-2 gap-3 md:gap-4 lg:gap-1 lg:absolute lg:top-0 lg:translate-x-full lg:right-0 lg:mt-0 lg:pl-2 visible\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Question: Under full employment situation, all willing and able bodied people get employment at prevailing wage rate. The correct answer is &#8211; The statement is generally true. Under full employment, all individuals who are willing and able to work at the prevailing wage rate can find employment. This means that the unemployment rate is at [&hellip;]<\/p>\n","protected":false},"author":21842,"featured_media":132233,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12119],"tags":[],"class_list":{"0":"post-134566","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-quiz"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/posts\/134566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/users\/21842"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/comments?post=134566"}],"version-history":[{"count":2,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/posts\/134566\/revisions"}],"predecessor-version":[{"id":134580,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/posts\/134566\/revisions\/134580"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/media\/132233"}],"wp:attachment":[{"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/media?parent=134566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/categories?post=134566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/tags?post=134566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}