Economists consider full employment as being a situation where: everyone who wants a job has a job. frictional unemployment equals 0% the sum of frictional unemployment and structural unemployment equals zero. At full employment there is still movement between jobs and technological change that causes a mismatch between skills workers have and skills firms need.
Economists consider full employment as being a situation where: everyone who wants a job has a job. frictional unemployment equals 0% the sum of frictional unemployment and structural unemployment equals zero. At full employment there is still movement between jobs and technological change that causes a mismatch between skills workers have and skills firms need.
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
Section: Chapter Questions
Problem 7P
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