The term "natural rate of unemployment" refers to the level of unemployment that occurs when:
a. the economy is healthy
b. the economy faces a recession.
c. workers in an economy move between jobs.
d. there are fundamental changes in the nature of an economy.
a
Economics
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An expansion ends when the economy hits a trough and then enters a recession
Indicate whether the statement is true or false
Economics
When the federal government installs a price support program that requires the government to purchase all of a good not bought in the private economy at the support price, the impact on total welfare is the
A) change in consumer surplus. B) change in consumer surplus + the change in producer surplus + the cost to government. C) change in consumer surplus + the change in producer surplus - the cost to government. D) change in consumer surplus + the change in producer surplus.
Economics