Which of the following statement s is are correct 1 In the years of job less growth the value of ldq...........

Economic Affairs Employment related Issues

Which of the following statement/s is/are correct?

1. In the years of job-less growth, the value of “employment elasticity” is one/1.

2. Where there is stark or perfect inequality, the value of Gini coefficient is zero/0.

Select the correct answer using codes given below

1 only

2 only

Both 1 and 2

None of the above

None of the above

When the employment elasticity is 1, employment increases at the same pace as the economy.
A value of 0 for elasticity means that employment does not increase at all regardless of economic expansion.
The Gini index measures the extent to which the distribution of income or consumption among individuals or households within an economy deviates from a perfectly equal distribution.
A Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality.