If There Is Unemployment and All Businesses Are Operating at Less

question 145

Multiple Choice

If there is unemployment and all businesses are operating at less than full capacity, then

• A) there are too many workers, and some people ought to leave the labor force.
• B) we are not experiencing a net social cost to unemployment because it is offset by the capacity levels of the factories.
• C) society is producing inside its production possibilities curve.
• D) society is at the wrong point on the production possibilities curve.

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Definitions:

Small-Batch Production

Manufactures a variety of products crafted to fit customer specifications.

Better Ways

Innovative or more effective methods and practices that improve processes or outcomes.

Operations Management

Is the process of managing productive systems that transform resources into finished products or services.

Executive Compensation

Refers to the financial payments and other benefits such as bonuses, shares, and options provided to high-level management and executives in a company.