The Costs of Unemployment

question 21

Multiple Choice

The costs of unemployment

• A) consist solely of potential output forgone by society.
• B) may often include despair and damage to an individual's self-image.
• C) pertain solely to frictional unemployment.
• D) are permanently high according to the classical theory.
• E) are almost impossible to quantify because there is little agreement as to a common definition of full employment.

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Definitions:

Interval

A range of numbers between two set points, often used in mathematics and statistics to specify subsets of the real number line.

Chi-Squared Distribution

A distribution that represents the distribution of the sum of the squares of k independent standard normal random variables.

P-Value

The chance of encountering test outcomes as significant as or more than what is actually seen, assuming that the null hypothesis holds.

Population Locations

The geographically-based positions or areas where members of a specific population are found or located.