2. unemployment Flashcards

1
Q

participation rate formula

A

laour force/wokring age population times 100

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2
Q

full employment

A

situation in which all available labor resources are being used efficiently, and unemployment is at its natural rate, accounting for frictional and structural unemployment.

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3
Q

3 types of unemplyment

A

strucutral
frictional
seasonal

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4
Q

what can full employment be reffered to

A

natural rate of unemployment

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5
Q

What is non accelerating inflation rate of unemployment

A

The lowest level of unemployment at which inflation does not increase; represents a balance where the economy is stable without causing rising inflation.

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6
Q

what is nairu

A

the lowest level of unemployment that can occur in the economy before inflation starts to increase.

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