Definition of Full Employment
Definition of “Full Employment”?
Expert
1. Full employment does not mean zero unemployment.
2. The full employment unemployment rate is equal to the total frictional and structural unemployment.
3. The full employment rate of unemployment is also referred to as the natural rate of unemployment.
4. The natural rate is achieved when labor markets are in balance; the number of job seekers equals the number of job vacancies. At this point the economy’s potential output is being achieved.
5. The natural rate of unemployment is not fixed but depends on the demographic makeup of the labor force and the laws and customs of the nations.
6. The recent drop in the natural rate of 6% to 5.5% has occurred mainly because of the aging of the work force and increased competition in product and labor markets.
How can we calculate EPS?
For the question below, utilize the given information. The market for gizmos is competitive, with an increasing sloping supply curve and a downward sloping demand curve. With no govt. intervention, the equilibrium price is $25 and the equilibrium quantity is 10,000 gi
Describe Spillovers and externalities?
The idea which a virtue of capitalism is decentralized its decision making emerged while: (1) social philosophers looked for alternatives to feudal kings like economic regulators. (2) Russian imperialism fostered anti-communist sentiment after World W
Give a brief introduction of the term Cost Principle ?
A perfectly competitive industry achieves allocative efficiency since: w) goods and services are produced at the lowest possible cost. x) services and goods are produced up to the point where the last unit gives a marginal benefit to consumers equivalent to the margin
Use the circular flow model to confirm this assertion for an expansion of preschool programs for disadvantaged children?
Give a brief introduction of the term net present value? Write down its admittable rules, their merits and demerits?
Micro economics and macro economics:Economic theory can be widely divided into micro and macroeconomics. The word micro means small and macro means big.In microeconomics, we deal
Favor laissez- faire economic policies tended by Adam Smith, who also: (w) saw the requirement for several state intervention. (x) believed there were no conditions in which the government must intervene. (y) supported most government
18,76,764
1937086 Asked
3,689
Active Tutors
1437503
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!