The Natural Unemployment Rate

question 323

Multiple Choice

The natural unemployment rate .

• A) is greater than the actual rate of unemployment
• B) is the unemployment rate when there is no cyclical unemployment
• C) is the same from year to year
• D) equals zero

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Definitions:

Seniority

Length of the worker’s employment, which may be used for determining order of promotion, layoffs, vacation, etc.

Employee-related Decisions

Decisions made by an organization that directly affect its workforce, including hiring, promotions, terminations, and policy changes.

Promotions

The advancement of an employee's rank or position in an organizational hierarchy, often accompanied by increased responsibilities and salary.

Overtime

Additional time worked beyond the regular working hours, often compensated at a higher pay rate.