A country starts in steady state. Due to a lost war, the country has to give up territory containing 50% of its capital stock and 10% of its population. This will cause Group of answer choices the economy to converge to a new higher steady state. the growth rate of output to rise initially as the economy begins to converge to the old steady state. the growth rate of output to rise initially as the economy begins to converge to a new lower steady state. the economy to enter a period of negative growth.

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Unemployment and Cost of Unemployment

Unemployment is the state of being unemployed, even when an individual is actively seeking work opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed.