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.

Question

Quizplus · Accepted Answer

Unemployment indicates that not all resources are being used efficiently, placing the economy inside its production possibilities curve.

Which One of the Following Statements Is True