full employment means\na. there is a level of unemployment consistent with \normal\ frictions in the labor…
full employment means\na. there is a level of unemployment consistent with \normal\ frictions in the labor market.\nb. everyone has a job.\nc. there is \normal\ frictional unemployment and a small amount of cyclical unemployment.\nd. everyone in the labor force has a job.
Answer
Brief Explanations:
Full - employment does not mean zero unemployment. There will always be some frictional unemployment due to normal labor - market transitions like people changing jobs. It is the level of unemployment consistent with normal frictions in the labor market. Cyclical unemployment should be close to zero at full - employment.
Answer:
A. there is a level of unemployment consistent with "normal" frictions in the labor market.