When is the labour market considered to be at 'full employment'?

Question

Quizplus · Accepted Answer

Full employment does not necessarily mean that there are no unemployed workers, as there may be a certain level of frictional and structural unemployment that is inevitable in any economy. In this context, full employment refers to a situation where all existing unemployment is due to frictional or structural factors, meaning that there are no cyclical or demand-deficient unemployment. In other words, there are job vacancies available for any worker who is willing and able to work. Therefore, option B is the correct answer.

When Is the Labour Market Considered to Be at 'Full