Full employment is defined by most economists as the minimization of
A)cyclical unemployment.
B)frictional unemployment.
C)seasonal unemployment.
D)structural unemployment.

Question

Quizplus · Accepted Answer

Full employment is often thought of as the point where cyclical unemployment is minimized. Cyclical unemployment refers to the unemployment that results from normal fluctuations in the business cycle, when there is a downturn in the economy or a recession. At full employment, there is still some level of frictional and structural unemployment, which are caused by factors such as people switching jobs and changes in the demand for certain skills in the labor market. However, the goal of full employment is to minimize the amount of cyclical unemployment that exists.

Full Employment Is Defined by Most Economists as the Minimization