The natural rate of unemployment
I is the economy's desirable level of unemployment.
Ii) arises from a single problem that has a single solution.
Iii is the amount of unemployment that does not go away on its own.

Question

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The natural rate of unemployment is the level of unemployment that persists in an economy in the long run, even when the economy is at full capacity. It is not necessarily desirable, nor does it arise from a single problem with a single solution. It includes frictional and structural unemployment, which do not go away on their own.

The Natural Rate of Unemployment