Q. A person lost his job due to economic recession. He agreed to do some job on a low wage. This is known to be as which among the following?
Answer: Disguised Unemployment
Notes: The correct answer is "Cyclical Unemployment." This type of unemployment occurs due to economic downturns, such as recessions, when demand for goods and services decreases, leading to job losses. In this scenario, the individual lost their job because of the recession and accepted lower-wage work, reflecting the cyclical nature of employment fluctuations tied to the economy. Seasonal unemployment, on the other hand, is related to seasonal work patterns, while disguised unemployment refers to individuals who are employed but not fully utilized. Voluntary unemployment occurs when individuals choose not to work.