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Question

In Economics, what does the term Usual Principal Status indicate?

A Comparison of GDP of two different nations Correct Answer Incorrect Answer
B Employment status of a worker Correct Answer Incorrect Answer
C Principal amount invested by a person in the bank on a particular interest Correct Answer Incorrect Answer
D Status of Non-performing assets Correct Answer Incorrect Answer

Solution

Usual Principal Status (UPS) is used to indicate the employment status. In UPS, the reference period is a year to describe the activity status of a worker. A person is known to be employed if he or she was engaged in an economic activity for a longer period of time in 365 days. Similarly a person is said to be unemployed if that person is available for work but not engaged in any economic activity.

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