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    Example of Impact of High Unemployment on National Welfare

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    Does a high rate of unemployment hurt anyone other than those individuals unemployment? Explain.

    © BrainMass Inc. brainmass.com October 9, 2019, 11:23 pm ad1c9bdddf
    https://brainmass.com/economics/unemployment/detrimental-effects-unemployment-254728

    Solution Preview

    In purely economic terms yes it does hurt other than those who are unemployed. The biggest reason is that a high unemployment rate reduces your available resources and thus reduces the amount that a nation can produce.

    A simple example will explain this: Suppose there are two countries that both produce a single good, say apples, using just ...

    Solution Summary

    Discusses the effects of unemployment on different individuals.

    $2.19