Please answer both components; thank you!1. Explain why “full employment" does not mean 0% unemployment.2. Part 3: Business Cycle Practice- Use letters on the graph to identify the following:16.Peak17.Expansion/Recovery18.TroughGDPA.19.Full Employment20.Contraction/RecessionВETime

1. Full employment is the situation in which the economy experiences the lack of involuntary…

Answered: Please answer both components; thank…

Business

Economics

Please answer both components; thank you! 1. Explain why “full employment" does not mean 0% unemployment. 2.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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100%

Please answer both components; thank you!

1. Explain why “full employment" does not mean 0% unemployment.

Part 3: Business Cycle Practice- Use letters on the graph to identify the following:
16.
Peak
17.
Expansion/Recovery
18.
Trough
GDP
A.
19.
Full Employment
20.
Contraction/Recession
В
E
Time

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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