The Rate of Unemployment When the Economy Is at Its

question 165

Multiple Choice

The rate of unemployment when the economy is at its potential output is called the

• A) full-employment rate of unemployment.
• B) natural rate of unemployment.
• C) structural rate of unemployment.
• D) frictional rate of unemployment.

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Definitions:

Pension Plans

Retirement plans that require an employer to contribute to a pool of funds set aside for a worker's future benefit, invested on the employee's behalf.

Older People

A demographic group typically defined as individuals of advanced age or the later part of life, often considered to be those 65 years old and above.

Child Care Benefits

Employer-provided benefits or subsidies designed to help employees with the costs and logistics of child care.

Family and Medical Leave Act

A U.S. federal law that requires covered employers to provide employees with job-protected and unpaid leave for qualified medical and family reasons.