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Which of the following statements about voluntary and involuntary unemployment is true?


At full employment there will only by involuntary or cyclical unemployment in the economy.


Cyclical unemployment is considered an involuntary unemployment, while frictional unemployment is a voluntary unemployment.


Frictional unemployment is an involuntary unemployment, as the individual will likely have no job offers.


When the economy is operating below full employment, the is no frictional unemployment.

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