Cyclical Unemployment Is Equal to Zero When

question 23

Multiple Choice

Cyclical unemployment is equal to zero when:

• A)there is no recessionary gap.
• B)there is no expansionary gap.
• C)actual GDP and potential GDP are equal.
• D)frictional unemployment equals structural unemployment.

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Definitions:

Principle of Nonmaleficence

A fundamental bioethical principle that obligates healthcare providers to refrain from causing harm to patients.

Do No Harm

A fundamental ethical principle, particularly in healthcare, stipulating that actions taken should not cause unnecessary injury or suffering to others.

Principles of Justice

Fundamental ethical guidelines that emphasize fairness, equity, and impartiality in the distribution of benefits and burdens within society.

Original Position

A theoretical situation in John Rawls' theory of justice where individuals select principles of justice behind a veil of ignorance, unaware of their personal characteristics.