Author Question: What is unemployment and what is the unemployment rate? What are the costs of unemployment? What ... (Read 59 times)

dmcintosh · **on:** Jun 29, 2018

What is unemployment and what is the unemployment rate? What are the costs of unemployment?

What will be an ideal response?

Question 2

When an Australian citizen enjoys military protection in Australia without contributing to the cost of Australia's defense budget, then

A) this citizen is a free rider.
B) Australia is a free rider.
C) this citizen receives no benefits if Australia is attacked.
D) Australia's defense budget will run out of funds.

kardosa007 · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

Unemployment refers to someone who is without a job but who is actively looking for work. The unemployment rate is the proportion of the labor force, which is the people 16 and older who either are working or are looking for work, that is unemployed. The cost of unemployment is the reduced output that could have been made with full employment, as well as the psychological costs to the unemployed.

Answer to Question 2

A