The Normal Level of Unemployment That Persists in an Economy

question 65

Multiple Choice

The normal level of unemployment that persists in an economy in the long run is:

• A) called the natural rate of unemployment.
• B) also called the equilibrium rate of underemployment.
• C) zero when the market is equilibrium.
• D) always achieved in the real world.

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Definitions:

Less Developed Nations

Countries characterized by low levels of industrialization, economic activity, and human development indicators compared to more developed nations.

Congolese Church Groups

Religious communities or assemblies in the Congo, typically Christian, that play a role in the social and spiritual life of Congolese society.

Developed Nations

Countries with high levels of industrialization, a high standard of living, and advanced technological infrastructure relative to other less industrialized nations.

Federal Government

The national government of a federal country, in which powers are divided between a central authority and constituent political units.