Which is the most accurate statement?
A)In order to have full production,there must be full employment.
B)In order to have full employment,there must be full production.
C)Both statements are accurate.
D)Neither statement is accurate.

Question

Quizplus · Accepted Answer

Full production typically implies that all available resources, including labor, are being used efficiently. Therefore, for an economy to achieve full production, it generally requires full employment, where all individuals who are willing and able to work at prevailing wage rates are employed. Full employment does not necessarily guarantee full production, as other factors such as technology, capital, and resource allocation also play critical roles.

Which Is the Most Accurate Statement