The number of people who are able to work and willing to work at the existing wage
known as:
(a) labour force
(b) workforce
(c) labour supply
(d) participation rate
Answers
Answer:
C bhai dekh lena Bakii aap
THE NUMBER OF PEOPLE WHO ARE ABLE TO WORK AND WILLING TO WORK AT THE EXISTING WAGE IS KNOWN AS LABOUR FORCE.
Explanation: The labour force is made up of both employed and jobless persons who are looking for work. The labour pool excludes jobless people who aren't seeking for work.
Stay-at-home moms, retirees, and students, for example, are not included in the labour force. Disappointed workers who have given up looking for work are also absent from the labour force. The person must be available, willing to work, and have recently looked for work to be considered part of the labour force. The official unemployment rate is based on the number of unemployed people who are still looking for work.
The size of the labour force is determined not just by the number of adults, but also by how confident they are in their ability to find work. As a result, during and after a recession, the labour pool decreases. Even while the number of people who would prefer a full-time job if they could get one may remain same, this is true.
The real unemployment rate counts everyone who is unemployed, even if they are no longer employed.