Why Are Economists Concerned with Unemployment as Measured by the Unemployment

question 24

Multiple Choice

Why are economists concerned with unemployment as measured by the unemployment rate?

• A)when the unemployment rate is high, wages tend to rise
• B)if the nation is to reach its full economic potential then all individuals must have the opportunity to become productive employed members of society
• C)output that could have been produced in the previous year by those who were unemployed is forever lost
• D)All of the above are correct.
• E)Both b and c are correct.

---

Definitions:

Nature/nurture Debate

Debate concerning the relative importance of an individual's innate qualities versus personal experiences in determining or causing differences in physical and behavioral traits.

Biological Factors

Aspects of biology that affect behaviors, health, and development, including genetics, brain chemistry, and physical health.

Immortal Soul

A concept in some religious, philosophical, and mythological traditions of an aspect of a person or living being that lives on after physical death.

Mental Activity

Processes related to the mind, including thinking, remembering, and reasoning, occurring within the brain.