_____________ may be defined as the situation when all those persons who are willing to work at the prevailing wage rate are getting work and are employed.

Disguised employment

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Full employment

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Voluntary employment

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Involuntary employment

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Solution

The correct option is B Full employment
Full employment refers to the situation when all the people who are willing to work in the economy at a prevailing wage rate are getting work and are employed to produce the desired level of output in the economy.

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Similar questions

___ refers to a situation when a person who is willing and able to do work at existing wage rate but do not get work.

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