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Dr. homer simpson, an economics professor, decided to take a year off from teaching to run a commercial fishing boat in Alaska. that year, professor simpson would be officially counted as Fully employed.
What is full employment called?
- Full employment occurs when all labor resources are utilized as effectively as feasible. "full employment" refers to the maximum possible level of skilled and unskilled workers in a given economy.
- When there is full employment, neither cyclical nor deficient-demand unemployment exists. Due to structural and frictional unemployment, full employment does not mean all unemployment has been eliminated.
- The struggle for workers among businesses grows when the economy reaches full employment. Because of this, talented workers can request better pay and more perks. Although a competitive job market helps individuals, it eventually hurts the economy.
- Iceland is not just the happiest nation in the world but also one with the highest employment and lowest unemployment rate. The employment rate is a good indicator of a nation's economic health.
Dr. homer Simpson, an economics professor, decided to take a year off from teaching to run a commercial fishing boat in Alaska. That year, professor Simpson would be officially counted as fully employed.
Doctor Simpson has taken the job of running a fishing boat. He has given up his current job but he has also taken up a new job in the form of self-employment. Therefore he will be considered as fully employed.
To learn more about fully employed, refer to:
https://brainly.com/question/1446509
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