Economists refer to the "typical" rate of unemployment as the natural rate of unemployment.

Name: Economists refer to the "typical" rate of unemployment as the natural rate of unemployment.
Brand: Quizplus
Rating: 5.0 (47 reviews)

Question

Quizplus · Accepted Answer

Economists commonly refer to the "typical" rate of unemployment as the natural rate of unemployment. This natural rate is the rate of unemployment that exists when the labor market is considered to be in equilibrium, meaning that the demand for labor equals the supply of labor.

Economists Refer to the "Typical" Rate of Unemployment as the Natural