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Questions
What is voluntary unemployment?
Give the meaning of voluntary unemployment.
What do you mean by voluntary unemployment?
Short Answer
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Solution
Voluntary unemployment refers to a situation in which a worker is not willing to work even when work is available at the prevailing wage rate. In other words, people choose not to work despite the availability of jobs at the current wages.
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Chapter 21: Full Employment and Voluntary Unemployment - TEST QUESTIONS [Page 21.12]
