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-(Figure: Actual and Natural Rates of Unemployment)Refer to Figure: Actual and Natural Rates of Unemployment.In 1982,the natural unemployment rate (structural plus frictional)was approximately:

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Use the following to answer questions: 
-(Figure: Actual and Natural Rates of Unemployment)Refer to Figure: Actual and Natural Rates of Unemployment.In 1982,the natural unemployment rate (structural plus frictional)was approximately:

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The natural unemployment rate in 1982 was approximately 6%, as shown by the intersection of the long-run Phillips curve and the actual Phillips curve. This indicates that, at that time, the economy was experiencing a level of unemployment that was consistent with its potential output and no monetary or fiscal policy action was needed to stabilize the economy.

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