According to the Text, Economists Consider Full Employment to Occur

question 155

Multiple Choice

According to the text, economists consider full employment to occur when

• A)everyone who wants a job has a job.
• B)frictional unemployment equals zero.
• C)the sum of frictional unemployment and structural unemployment equals zero.
• D)the unemployment rate consists of only frictional and structural unemployment.
• E)structural unemployment is less than 2 percent.

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Definitions:

Observations

Data collected during an experiment or survey. They are individual instances of the data collected.

Frequency Distribution

A statistical representation showing the number of observations within specified intervals, commonly used to visualize data distributions.

Scatter Plot

A type of graph used in statistics to display values for typically two variables for a set of data, with each point representing the values of two variables.

Quartile

A quartile is a statistical term describing a division of a data set into four defined intervals based upon the values of the data and how they compare to the entire set, which helps in understanding the spread and distribution of the data.