According to advocates of the long-run vertical Phillips curve, the natural rate of unemployment is determined by A. frictional unemployment only. B. frictional and structural unemployment. C. frictional, structural, and cyclical unemployment. D. cyclical unemployment only.

Structural unemployment refers to a situation where jobs exist, but the applicants don't match the skills needed for the jobs. Structural unemployment is caused by external forces to the business cycle (e.g. low education levels).

According to advocates of the​ long-run vertical Phillips​ curve, the natural rate of unemployment is determined by A. frictional unemployment only. B. frictional and structural unemployment. C. ​frictional, structural, and cyclical unemployment. D. cyclical unemployment only.

Respuesta :

Otras preguntas

According to advocates of the long-run vertical Phillips curve, the natural rate of unemployment is determined by A. frictional unemployment only. B. frictional and structural unemployment. C. frictional, structural, and cyclical unemployment. D. cyclical unemployment only.