the natural rate of unemployment is best defined as\na. the rate of unemployment when there is no frictional…

the natural rate of unemployment is best defined as\na. the rate of unemployment when there is no frictional or cyclical unemployment.\nb. the rate of unemployment when there is no cyclical or structural unemployment.\nc. the state of the economy when there is zero unemployment.\nd. the rate of unemployment after all workers and employers have fully adjusted to all changes in the economy.

the natural rate of unemployment is best defined as\na. the rate of unemployment when there is no frictional or cyclical unemployment.\nb. the rate of unemployment when there is no cyclical or structural unemployment.\nc. the state of the economy when there is zero unemployment.\nd. the rate of unemployment after all workers and employers have fully adjusted to all changes in the economy.

Answer

Brief Explanations:

The natural rate of unemployment consists of frictional and structural unemployment. It is the rate that exists when there is no cyclical unemployment. Frictional unemployment is due to normal labor - market turnover, and structural unemployment is due to a mismatch between workers' skills and job requirements. When all workers and employers have fully adjusted to changes in the economy, the remaining unemployment is the natural rate.

Answer:

D. the rate of unemployment after all workers and employers have fully adjusted to all changes in the economy.