Economics · Employment and Unemployment
A developing economy experiences a phase of 'jobless growth' where GDP rises, but the employment elasticity of growth declines. In this context, which of the following statements are correct? 1. It implies structural transformation is taking place without sufficient labor absorption in modern sectors. 2. Growth is primarily driven by capital-intensive rather than labor-intensive sectors. 3. Average labor productivity may still rise during this phase. 4. The absolute unemployment rate must increase in all sectors of the economy. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11 and 3 only
- 21, 2 and 4
- 32 and 3 only
- 41, 2 and 3✓
Correct answer
1, 2 and 3
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