Examlex
When a respondent tells an interviewer that his annual income last year was $50,000 (because he is embarrassed to admit that it was $25,000) ,this is an example of:
Unemployment
The situation in which individuals who are capable of working and actively seeking a job are unable to find employment.
Full Employment
Full employment refers to a situation where all available labor resources are being used in the most efficient way possible, with no involuntary unemployment.
Equilibrium GDP
The level of Gross Domestic Product at which the total quantity of final goods and services produced equals the total quantity demanded.
Savings
The portion of income that is not spent on current expenditures and is set aside for future use, often in a bank or investment.
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