Refer to the following table 7.2 when answering the following questions.

-Consider the data in Table 7.2. Using the "bathtub model" of unemployment, in 2015 the natural rate of unemployment was ________ percent.

Question

Refer to the following table 7.2 when answering the following questions.

-Consider the data in Table 7.2. Using the "bathtub model" of unemployment, in 2015 the natural rate of unemployment was ________ percent.

Quizplus · Accepted Answer

The natural rate of unemployment is the rate of unemployment that exists when the economy is at full employment. In 2015, the unemployment rate was 7.0%, which is the natural rate of unemployment.

Refer to the Following Table 7