Scenario 1. Assume that frictional unemployment is 25; structural unemployment is 50; cyclical unemployment is 150; discouraged workers = 75; employed workers = 750; underemployed workers = 200. Use...

Scenario 1.

Assume that frictional unemployment is 25; structural unemployment is 50; cyclical unemployment is 150; discouraged workers = 75; employed workers = 750; underemployed workers = 200.
Use this information to answer the following 5 questions.

Refer to Scenario 1. Is the economy at full employment?

Question 15 options:

a)	Yes, because the unemployment rate is below 10%

b)	No, because the unemployment rate exceeds the natural rate of unemployment

c)	No, because cyclical unemployment exists in the economy

d)	Answers B and C are both correct

Jun 09, 2022

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Scenario 1. Assume that frictional unemployment is 25; structural unemployment is 50; cyclical unemployment is 150; discouraged workers = 75; employed workers = 750; underemployed workers = 200. Use...

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