The sum of all income earned by resource suppliers in an economy is smaller than aggregate expenditure because some income is saved

We say that the economy is at full employment if the unemployment rate is equal to

A) the amount of cyclical unemployment. B) the sum of structural and cyclical unemployment. C) the natural rate of unemployment. D) the sum of frictional and cyclical unemployment. E) zero.

What does the unemployment rate represent?

(A) The percentage of the total population that is not employed. (B) The total number of people who are unable to find work. (C) The total number of people who are not employed. (D) The percentage of the total labor force that is unemployed.