291. Explainwhat part-time job means.
Part-time work or a part-time job is a flexible work arrangement which means working less than full-time hours. It usually means working fewer days per working week and employees are normally considered to be part-time if they commonly work fewer than 30 hours per week
If someone is a part-time worker or has a part-time job, they work for only part of each day or week. Many businesses are cutting back by employing lower-paid part-time workers. Part-time work is generally hard to find.
An example of a part-time job is a job where you work less than the customary 40 hours per week. ... An example of part time is when a person works for 20 hours and not the customary 40 hours per week.
292. Explainwhat full-time job means.
Companies commonly require from 32 to 40 hours per week to be defined as full-time and therefore eligible for benefits. Full-time status varies between company and is often based on the shift the employee must work during each workweek. ... Overtime is legally paid out anytime an employee works more than 40 hours per week.
The Fair Labor Standards Act (FLSA), which is the major employment law in the US, doesn’t provide a clear definition for part-time or full-time jobs. This means that depending on the company you work for, the line between part-time and full-time employment can be different.
Most companies will require full-time employees to work somewhere between 32 and 40 hours per week. This number is important, because it tells you how many hours you're guaranteed on a weekly basis. The Bureau of Labor Statistics sets the benchmark for full-time employees a little higher, at 35 hours a week, but this isn’t law.
293. Explainwhat the fundamental purpose of fiscal policy is.
Fiscal policy is the use of government spending and taxation to influence the economy. Governments typically use fiscal policy to promote strong and sustainable growth and reduce poverty. ... Before 1930, an approach of limited government, or laissez-faire, prevailed.
There are three types of fiscal policy: neutral policy, expansionary policy,and contractionary policy.
The two major examples of expansionary fiscal policy are tax cuts and increased government spending. Both of these policies are intended to increase aggregate demand while contributing to deficits or drawing down of budget surpluses.
Fiscal policy is an important tool for managing the economy because of its ability to affect the total amount of output produced—that is, gross domestic product. The first impact of a fiscal expansion is to raise the demand for goods and services. This greater demand leads to increases in both output and prices.
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