Question

“Suppose an imaginary economy is experiencing a situation of rise in Real Gross Domestic Product (GDP), without any corresponding adequate rise in the employment opportunities in the economy.” In economic parlance, such a situation is termed as ..................... growth.
(Choose the correct option to fill in the blank)

• A. Casual
• B. Informal
• C. Formal
• D. Jobless

Hint:

Jobless growth is a concern for policymakers because it implies that economic growth is not benefiting the broader population in terms of employment.

Answer 1

The Correct Option is D

Economic expansion without corresponding job creation is termed jobless growth. This phenomenon signifies GDP advancement failing to generate sufficient employment for an expanding workforce. It is frequently driven by technological progress or enhanced productivity, which diminish labor requirements even as the economy expands.