Which One of the Following Statements Is True

question 263

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.

---

Definitions:

Return of Merchandise

The process where goods are returned to the seller from the buyer, often due to defect or dissatisfaction.

Accounts Payable

Liabilities of a business that represent amounts owed to suppliers or creditors for goods and services received but not yet paid for.

Balance Sheets

Financial statements that summarize a company's financial position at a specific point in time, detailing assets, liabilities, and shareholders' equity.

Service Company

A company that provides services to customers as its primary business operations, rather than selling tangible goods.