Economists Expect Some Unemployment to Exist Even at Times of "Full

question 72

Multiple Choice

Economists expect some unemployment to exist even at times of "full employment" for,among others,the following reasons:
1) actual GDP is rarely equal to potential GDP;
2) as the economy changes,the structure of the existing labour force is not the same as the structure of labour demand;
3) people entering the labour force typically take some time to find a job.

• A)1 only
• B)2 only
• C)3 only
• D)2 and 3
• E)1 and 2

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Definitions:

Private Corporations

Businesses owned by non-governmental organizations or a relatively small number of shareholders or company members which do not offer or trade their company stock to the general public on the stock market.

Single Owner

Refers to a business structure where a single individual owns, manages, and is responsible for all aspects of the business, often known as sole proprietorship.

Legal Entity

An individual, company, or organization that has legal rights and obligations.

Satisfactory Income

The level of profit that meets or exceeds the expectations and needs of the business or its stakeholders.