Full employment is considered a major economic goal because:

Question

Quizplus · Accepted Answer

The opportunity cost of unemployment is lost production, as unemployed workers are not producing goods and services that could be sold in the market. Full employment ensures that all available labor resources are being utilized, leading to increased production and economic growth. Additionally, unemployment often leads to increased social welfare expenses and reduced tax revenues, further exacerbating economic problems.

Full Employment Is Considered a Major Economic Goal Because