Definition of Full Employment
Definition of “Full Employment”?
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1. Full employment does not mean zero unemployment.
2. The full employment unemployment rate is equal to the total frictional and structural unemployment.
3. The full employment rate of unemployment is also referred to as the natural rate of unemployment.
4. The natural rate is achieved when labor markets are in balance; the number of job seekers equals the number of job vacancies. At this point the economy’s potential output is being achieved.
5. The natural rate of unemployment is not fixed but depends on the demographic makeup of the labor force and the laws and customs of the nations.
6. The recent drop in the natural rate of 6% to 5.5% has occurred mainly because of the aging of the work force and increased competition in product and labor markets.
Distinguish clearly between a plant, a firm, and an industry?
Use the economic perspective to explain the behavior of the workers? Why do they work so diligently?
What are the determinants of supply?
Even people who are extremely good at everything couldn’t encompass: (i) absolute benefits in approximately everything. (ii) Much higher incomes than average. (iii) Comparative benefits in everything. (iv) Superior natural endowments of talent. Q : Reason of Economic problem Why an Why an economic problem does arise? Answer: It arises due to following reasons: A) Shortage of resources. B) Alternative utilizations of resources. C) Limitless wants and limited resources.
Why an economic problem does arise? Answer: It arises due to following reasons: A) Shortage of resources. B) Alternative utilizations of resources. C) Limitless wants and limited resources.
The competitive market system is least probable to be allocatively unproductive as a result of: (w) externalities and public goods. (x) cutthroat competition and the outsourcing of low-wage jobs to less grown countries. (y) the underproduction of a go
What happens to the supply curve when each of these determinants changes?
The new supply and demand curves within University City were S0 and D0, before the county commission imposed a $3 per six-pack excise tax upon beer. The new equilibrium quantities of six-packs sold per month and equilibrium prices, respectively,
For rapid growth of world trade what are the factors of account since the Second World War?
Cost of debt= (1-tax rate)* interest rate * (debt ÷capital employed)Cost of equity = risk free rate + market premium (equity shareholders funds÷ capital employed)
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