Income lost by the unemployed is an example of the cost of unemployment, while the additional spending to control crime is an example of the cost of unemployment.

A. psychological; economic
B. economic; psychological
C. economic; social
D. social; psychological

Answer: C

Economics

When aggregate economic activity is declining, the economy is said to be in

A) a contraction. B) an expansion. C) a trough. D) a turning point.

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Economics

What is the real GDP in year 1 using base year 2?

A) $418. B) $300. C) $360. D) $338.

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Economics

Income lost by the unemployed is an example of the ________ cost of unemployment, while the additional spending to control crime is an example of the ________ cost of unemployment.