Statement I.When U.S.unemployment rate is five percent,it attains full employment.
Statement II.Full employment and full production mean virtually the same thing.
A)Statement I is true and statement II is false.
B)Statement II is true and statement I is false.
C)Both statements are true.
D)Both statements are false.

Question

Quizplus · Accepted Answer

Statement I is partially true. A five percent unemployment rate is typically considered close to full employment, but it does not necessarily mean that everyone who wants a job has one. 
Statement II is false. Full employment refers to the level of employment where everyone who wants a job has one, while full production refers to the level of output produced when all resources are fully utilized. These are related concepts but not the same thing.