BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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5-7%
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10-15%
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2-3%
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11-12%
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Detailed explanation-1: -The natural rate of unemployment (NAIRU) is the rate of unemployment arising from all sources except fluctuations in aggregate demand. Estimates of potential GDP are based on the long-term natural rate.
Detailed explanation-2: -Natural unemployment is the minimum unemployment rate resulting from real or voluntary economic forces. It represents the number of people unemployed due to the structure of the labor force, including those replaced by technology or those who lack the skills necessary to get hired.
Detailed explanation-3: -"Economic concept that (in the long run) there will be a typical rate of employment determined by market forces which the government can increase only by causing high rate of inflation.