Classical Economists Contend That Official Measures of Unemployment

question 12

Multiple Choice

Classical economists contend that official measures of unemployment:

• A)understate the problem due to the existence of discouraged workers.
• B)understate the problem due to involuntary part-time employment.
• C)overstate the problem because most unemployment is voluntary.
• D)overstate the problem because most unemployment is cyclical.

---

Definitions:

Tax Rate

The percentage at which an individual or corporation is taxed. The tax rate may vary based on income level, type of income, or other factors.

IOS

Stands for Input/Output System or alternatively, iOS, Apple Inc.'s mobile operating system used for its iPhones and iPads, depending on context.

IRRs

The Internal Rate of Return is a financial measurement utilized to assess the projected profitability of future investments.

After-Tax Cost

After-Tax Cost is the expense associated with a transaction or activity, taking into account the effect of income tax deductions or liabilities.