What is meant by the natural rate of unemployment?
What will be an ideal response?
The natural rate of unemployment the rate of unemployment estimated to prevail in long-run macroeconomic equilibrium, when all workers and employers have fully adjusted to any changes in the economy.
Economics
You might also like to view...
An intertemporal budget constraint is downward sloping due to ________
A) the trade-off between current and future consumption B) the law of diminishing marginal productivity C) the law of supply D) the law of demand
Economics
If taxes are reduced, will most people save more or less than before? Does national saving rise or fall? Explain
What will be an ideal response?
Economics