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Which of the Following Statements Is Correct

question 56

Multiple Choice

Which of the following statements is correct?
i.As the economy grows,the opportunity costs of economic growth decrease.
ii.Economic growth has no opportunity cost.
iii.The opportunity cost of economic growth is current consumption forgone.


Definitions:

Cyclical Unemployment

Unemployment that results from economic downturns or recessions, characterized by a lack of demand for goods and services.

Unemployment Insurance

A government program that provides financial assistance to individuals who are unemployed through no fault of their own, offering temporary income support.

Computerized Job Bank

A digital platform or database that connects job seekers with employment opportunities.

Frictional Unemployment

Refers to people who are between jobs or just entering or reentering the labor market.

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