What Is Another Name for the Natural Unemployment Rate

question 121

Multiple Choice

What is another name for the natural unemployment rate?

• A)Non-deteriorating low-inflationary unemployment (NDLIU)
• B)Natural rate of no-inflation unemployment (NRNIU)
• C)Non-accelerating-inflation rate of unemployment (NAIRU)
• D)Non-inflationary rate of low unemployment (NIRLU)
• E)Natural unaffected rate of inflationary unemployment (NURIU)

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Definitions:

Surplus of Labor

A situation where the supply of labor exceeds the demand for it, resulting in unemployment or underemployment.

Downward Pressure

Describes a situation where factors contribute to the decrease in the price of a product or asset.

Wages

Payments made to workers for their labor, usually based on hours worked or output produced, and a fundamental component of employment contracts.

Equilibrium Wage

The wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers, resulting in labor market equilibrium.