The natural rate of unemployment O increases during recessions and depressions. equals the proportion of people in the labour force who are unemployed when the economy is operating at its potential level of GDP. is the portion of unemployment that is due to the normal working of the labour market, reflecting short-run job/skill matching problems. is the portion of unemployment that is due to changes in the structure of the economy, which results in some workers' skills becoming obsolete.

The natural rate of unemployment O increases during recessions and depressions. equals the proportion of people in the labour force who are unemployed when the economy is operating at its potential level of GDP. is the portion of unemployment that is due to the normal working of the labour market, reflecting short-run job/skill matching problems. is the portion of unemployment that is due to changes in the structure of the economy, which results in some workers' skills becoming obsolete.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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