When Macroeconomics Refers to "Full Employment," What Do They Mean

question 13

Multiple Choice

When macroeconomics refers to "full employment," what do they mean?

• A) Full employment occurs when the unemployment rate equals zero.
• B) Full employment occurs when there is only frictional unemployment, and all other types of unemployment have been eliminated.
• C) Full employment occurs when there is only structural unemployment, and all other types of unemployment have been eliminated.
• D) Full employment occurs when there is only frictional unemployment, structural, and cyclical unemployment has been eliminated.

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Definitions:

Career Choice

The process of deciding on a path for employment, which involves considering personal interests, skills, values, and the market demand for specific jobs.

Vicarious Reinforcement

The process of learning behaviors by observing the consequences of others' actions, as explained in social learning theory.

Observing Behavior

The process of systematically watching and noting behaviors as they occur in their natural settings.

Personal Self-Efficacy

Refers to an individual's belief in their own capacity to execute behaviors necessary to produce specific performance attainments.