Question

Why are high rates of unemployment of concern to economists? there is lost output that could have been produced if the unemployed had been working. higher rates of unemployment generally lead to higher inflation rates. environmental destruction is more prevalent when unemployment rates are high. all of these options are reasons why economists are concerned about high unemployment rates?

Answer 1

economics is the study of production to sales of a company, this is used to determine the value of things and that determines things like unemployment rates and inflation because less workers mean less labor and less labor means higher prices. So yes all of those options are concerns about high unemployment rates.