Explain Two Shortcomings of Using the Official Unemployment Rate as an Economic

question 45

Essay

Explain two shortcomings of using the official unemployment rate as an economic indicator.

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Definitions:

Good Performance

The achievement of tasks or goals at a level that meets or exceeds expectations.

Rewarded

Receiving something of value in recognition of service, effort, or achievement.

Goal Specificity

The degree to which goals are clearly defined, specific, and measurable, rather than vague or ambiguous, enhancing focus and direction.

Expectancy

A person's belief about the likelihood of achieving success in a specific situation, often influencing motivation and behavior.