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:

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Seventeenth Amendment

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A tax levied by the United States federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.

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