--%>
Assignment Help - homework help

Full-employment

Define the "full-employment" or "natural" rate of unemployment and give its approximate percentage rate as economists currently define it.

E

Expert

Verified

This is the unemployment that exists in the economy even when it is at full employment. The latter does not mean that everyone in the labour force is employed. There will still be some people who are in the midst of changing jobs and are thus unemployed with a job letter in hand to join the new job at a later date. This is called frictional unemployment. It represents unemployment as a result of people switching jobs.

   Related Questions in Macroeconomics

  • Q : Explain model of economy growth. The

    The origin of economic growth can be traced back to Adam Smith's Wealth of Nations. InSmith's view, economic growth of a nation depends on the 'division of labour' and specialization, and is limited by the limits of div

    		•
  • Q : Meaning of Cash Reserve Ratio or CRR

    Meaning of Cash Reserve Ratio (CRR): It is the percentage of net or total deposits of commercial bank that are maintained by RBI.

    		•
  • Q : Role of price in market economies What

    What is the role of price in market economies?

    		•
  • Q : Market system The market system's

    The market system's answer to the fundamental question "How will the system promote progress?" is essentially:

    		•
  • Q : Consumer Equilibrium when current

    Can someone please help me in finding out the accurate answer from the following question. When Brussels sprouts cost $1 per pound and tofu is $2 per pound and your marginal utilities (additional jollies) from either an additional pound of tofu or an additional pound

    		•
  • Q : Paradox of Value-total utility and

    I have a problem in economics on Paradox of Value-total utility and marginal utility. Please help me in the following question. Water is more precious than diamonds when measured by _____, however less valuable when measured by _____. (i) Total cost, total benefit. (i

    		•
  • Q : Define Tax revenue Tax revenue : Tax

    Tax revenue: Tax revenue is the revenue which occurs on account of taxes levied by government. Taxes are of two kinds: direct taxes and indirect taxes. Direct taxes are such taxes levied instantly on the property and income of person’s income ta

    		•
  • Q : Stage of the business cycle What stage

    What stage of the business cycle is our economy experiencing at present time? proof your answer.

    		•
  • Q : What is the difference between profit

    What is the difference between profit and producer surplus?

    		•
  • Q : Consumer Equilibrium of two goods The

    The consumer reaches equilibrium for any two goods X and Y whenever the: (1) MUx/Px = MUy/Py. (2) MUx/MUy = Py/Px. (3) Utility from X equivalents the utility produced by Y. (4) Point of diminishing returns is arrived at. Can someon

    		•