The Macro Consequence of Unemployment Is

question 83

Multiple Choice

The macro consequence of unemployment is

• A)Lost output for the economy.
• B)Lost income for the individual worker.
• C)A leftward shift in the production possibilities curve.
• D)A 1 percent decrease in GDP for every 1 percent decrease in unemployment.

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Definitions:

Negotiable

Referring to a legal document or instrument that is transferable from one party to another in good faith and for value, with the holder then having the right to execute it.

Contractual Specifications

Detailed requirements outlined in a contract regarding the quality, dimensions, and other characteristics of the work to be done or goods to be supplied.

Rick of Firewood

A specific measure of stacked firewood, often used to quantify firewood in cord-like units.

Bearer Instrument

A type of negotiable instrument that is payable to the holder or presenter, rather than a named individual.