Full employment is considered a major economic goal because:
a. specialization is not possible without full employment.
b. economic growth can only occur when there is full employment.
c. the opportunity cost of unemployment is lost production.
d. profit maximization of firms can only occur when there is full employment.
e. inflation will be lower when full employment is achieved.
Question 2
Which of the following statements is true?
a. Discrimination against women and blacks reduces the demand for these workers resulting in lower wages paid these workers.
b. Discrimination is no longer a problem in the United States.
c. A negative income tax system is a plan where everyone pays the same percentage of their income as taxes.
d. A negative income tax system is a plan where those below a certain income receive a cash payment from government.
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