Full Employment Occurs When the

question 255

Multiple Choice

Full employment occurs when the

• A) structural unemployment rate equals the frictional unemployment rate.
• B) natural unemployment rate equals the frictional unemployment rate.
• C) cyclical unemployment rate equals the natural unemployment rate.
• D) unemployment rate equals the natural unemployment rate.

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Definitions:

Economic Growth

An increase in the production of economic goods and services, compared from one period of time to another. It can be measured in nominal or real terms, the latter of which is adjusted for inflation.

Unusual Circumstances

pertains to events or conditions that are not part of the normal course of events and often require special consideration or response.

Outboard Motors

Outboard motors are a type of propulsion system for boats, typically mounted on the outside of the hull, used to steer and power a vessel.

Opportunity Cost

The advantages that a person, investor, or company forfeits when they opt for one option instead of another.