Question

Unemployment has a detrimental impact on the overall growth of the economy? justify

Answer 1

This increase the financial cost for the government as in many countries they pay the unemployed people. This cause the decrease in production and increase in the cost. 

The unemployed people save more rather than spending this cause a decrease in economy.

The standard of living decreases

The cost per person increases and quality of health decreases. 

Answer 2

Answer:

Unemployment has a detrimental impact on the overall growth of an economy. ... This is because unemployment creates a feel of hopelessness and depression among the unemployed people. Unemployment results in the wastage of human resource as people are not involved in any kind of productive activities.