Which One of the Following Statements Is TRUE

question 92

Multiple Choice

Which one of the following statements is TRUE?

• A) The existence of unemployment places the economy at a point inside its production possibilities curve.
• B) The unemployment rate is the percentage of the population not working.
• C) To be counted as part of the labor force, an individual must be working more than 40 hours a week.
• D) The sum of wages lost by all unemployed workers gives an accurate, comprehensive estimate of the total cost of unemployment.

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Definitions:

Social Needs

Fundamental human requirements for belonging, love, and affection from social groups and relationships.

Physiological Needs

Basic physical requirements essential to human survival, such as air, water, food, shelter, and sleep, posited by Maslow as the foundation of his hierarchy of needs.

Modern Conveniences

Technologies, devices, or services that simplify tasks and make daily life easier compared to past times.

Fulfillment

The achievement of something desired, promised, or predicted, or a sense of happiness or satisfaction resulting from achieving one's potential or realizing one's desires.