Explain What Economists Mean by Full Employment and Why This

Question

Examlex · Accepted Answer

The Answer is Full employment occurs in the macro economy when cyclical unemployment is zero.The full-employment rate of unemployment is then made up of the frictional rate of unemployment and the structural rate of unemployment.Because it will always take time to find a job,frictional unemployment will never be zero.Also because demand and technology are constantly changing in an economy,structural unemployment will never be zero.That is,some workers will always lose their jobs as the demands for the products they make fall or disappear entirely.

Explain What Economists Mean by Full Employment and Why This

Essay

Correct Answer:
Verified

Explain What Economists Mean by Full Employment and Why This

Essay

Correct Answer:VerifiedShow Answer

Correct Answer:
Verified