Examlex
Which of the following statements is false?
Fully Employs
The condition in which all available labor resources in an economy are being used in the most economically efficient way.
Full Employment
Full employment refers to a situation in the economy where all available labor resources are being used in the most efficient way possible, virtually eliminating involuntary unemployment.
Inefficient Outcome
A situation where resources are not allocated in the most valuable or productive way, often resulting from market failures or externalities.
Production Possibilities Frontier
A graphical representation that shows the combination of two goods that can be produced using all resources efficiently.
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