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What Is the Natural Rate of Unemployment,and What Types of Unemployment

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What is the natural rate of unemployment,and what types of unemployment constitute the natural rate of unemployment?


Definitions:

Theory Y

A management theory developed by Douglas McGregor that assumes employees are self-motivated, seek responsibility, and want to make creative contributions to the workplace.

Self-fulfilling Prophecies

Expectations about a subject that cause the subject to act in ways that confirm the expectations.

Adult Personality

The culmination of personality development over an individual's lifetime, showcasing stable psychological traits.

Unity of Direction

A principle that all members of an organization should work towards the same objectives in a coordinated manner.

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