What Economists Call "Involuntary Unemployment" Occurs When

question 77

Multiple Choice

What economists call "involuntary unemployment" occurs when

• A)the level of real GDP is at or above the economy's potential output.
• B)a person enters the job market for the first time.
• C)a person is not willing to accept an available job at the going wage rate.
• D)a job is available but the worker has not yet found it.
• E)a person is willing to accept a job at the going wage rate but cannot find one.

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Definitions:

Internal Control System

A process put in place by a company's management and board of directors to help ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Protect Assets

Measures and strategies implemented by a business or individual to safeguard tangible and intangible assets from loss, theft, or damage.

Internal Control Systems

Procedures and mechanisms implemented by a business to safeguard assets, enhance the reliability of financial reports, and ensure compliance with laws and regulations.

Cost-Benefit Principle

This principle involves analyzing whether the cost of an action outweighs its benefits before proceeding with the decision.