Choose the given statement is True/False:

Open unemployment and Disguised unemployment are one and the same thing.

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True

False

answer is B.

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Detailed Solution

It is False. Open unemployment and Disguised unemployment are not one and the same thing.
1)      Open unemployment is a situation, wherein the able-bodied person, willing to work, fails to find a job that earns them a living. In contrast, Disguised unemployment exists when the marginal physical productivity of the labour is less than their ability and capacity.
2)      Open unemployment generally exists in urban areas, whereas Disguised unemployment exists in rural and urban areas.
3)      In open unemployment, there is no job, and able-bodied persons remain idle. In contrast, in disguised unemployment, there is a job in the hands of the person, but his contribution to production is less.
4)      There is nil salary in open unemployment due to no job given to the person, while In disguised unemployment, some wages are paid to the workers, but their contribution to production is less.

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