Question

With respect to economic growth, when is it a good thing to forego wages (i.e. when is it good not to get a job)?

      
when the economy is in recession.

       
when current wages are low.

       
when undertaking higher education.

       
None of the statements above are correct.

Answer 1

When the economy is in recession.

Explanation:

With respect to economic growth,when the economy is in recession,it is a good thing to forego wages i.e.,it is good not to get a job because job availability is scarce and it becomes difficult for the job seekers and unemployed individuals to find jobs and a source of employment when economy undergoes recession as the period of recession is marked by general decline in trade, business,industrial sector activities etc or it is a period marked by economic contraction.Recession results in increased rate of unemployment,economic losses,business sector losses etc.Therefore it is very risky for individuals to get a job during recession and thus it is a good thing to forego wages i.e., good not to get a job.