When economists speak of full employment, they refer to the case in which the sum of frictional and structural unemployment is

Name: When economists speak of full employment, they refer to the case in which the sum of frictional and structural unemployment is
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Full employment occurs when all unemployment is due to frictional and structural factors, meaning the actual unemployment rate equals the natural rate of unemployment, which includes only frictional and structural unemployment.

When Economists Speak of Full Employment, They Refer to the Case