The cost of unemployment to society includes loss of the goods and services that might have been produced if the unemployed had been employed.

Question

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When people are unemployed, they are not producing goods and services that they could have produced if they were employed. This translates into a loss for society in terms of the economic output that could have been generated. Additionally, unemployment can lead to social costs such as increased poverty, crime, and social unrest, further highlighting the negative impacts of unemployment on society.

The Cost of Unemployment to Society Includes Loss of the Goods