When the actual unemployment rate is equal to the natural rate of unemployment Quizlet

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When the actual unemployment rate is equal to the natural rate of unemployment?
When the unemployment rate is equal to its natural rate that is no cyclical?
When the economy is at full employment What is the natural unemployment rate equal to zero?
What happens when the actual rate of unemployment is less than the natural rate of unemployment?

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When the actual unemployment rate is equal to the natural rate of unemployment?

The economy is considered to be at full employment when the actual unemployment rate is equal to the natural rate. When the economy is at full employment, real GDP is equal to potential real GDP.

When the unemployment rate is equal to its natural rate that is no cyclical?

So, it can be stated that at the natural rate of unemployment, cyclical unemployment is absent. Here, it is given that the actual unemployment rate in the economy is the same as the natural rate of unemployment, so we can conclude that the cyclical unemployment in the economy is zero.

When the economy is at full employment What is the natural unemployment rate equal to zero?

Not according to economists. Full employment is not the same as zero unemployment because there are different types of unemployment, and some are unavoidable or even necessary for a functioning labor market.

What happens when the actual rate of unemployment is less than the natural rate of unemployment?

When the unemployment rate falls below the natural rate of unemployment, referred to as a negative unemployment gap, the inflation rate is expected to accelerate. When the unemployment rate exceeds the natural rate of unemployment, referred to as a positive unemployment gap, inflation is expected to decelerate.