Question 24 Which of the following shout uncemployment is ure? (1) During a recession, qudical unemployment will be low. (3) When actual GDP equals potential GDP, the actual unemployment rate will ecual the economy's natural rate of unemployment. (3) When an economy is at full employment, actual unemployment will be less than the natural rate of unemployment. (4) Frictional unemployment implies a lack of available jobs.

Let's analyze each statement regarding unemployment to determine which one is true. 1. **During a recession, cyclical unemployment will be low.** - This statement is false. During a recession, cyclical unemployment typically increases because businesses reduce production and lay off workers due to decreased demand for goods and services. 2. **When actual GDP equals potential GDP, the actual unemployment rate will equal the economy's natural rate of unemployment.** - This statement is true. When an economy is operating at its potential GDP, it is considered to be at full employment, meaning that the actual unemployment rate will be equal to the natural rate of unemployment, which includes frictional and structural unemployment but not cyclical unemployment. 3. **When an economy is at full employment, actual unemployment will be less than the natural rate of unemployment.** - This statement is false. At full employment, the actual unemployment rate is equal to the natural rate of unemployment, not less than it. 4. **Frictional unemployment implies a lack of available jobs.** - This statement is also false. Frictional unemployment occurs when individuals are temporarily unemployed while transitioning from one job to another or entering the workforce. It does not imply a lack of available jobs; rather, it reflects the normal job search process. Based on this analysis, the only true statement is: **(2) When actual GDP equals potential GDP, the actual unemployment rate will equal the economy's natural rate of unemployment.**