ECONOMICS
BUSINESS CYCLES
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
9%
|
|
|
3%-5%
|
|
|
2%-4%
|
|
|
I don’t know, so I will probably be unemployed.
|
Detailed explanation-1: -To calculate the cyclical unemployment rate, subtract the total of the frictional unemployment rate and the structural unemployment rate from the current unemployment rate.
Detailed explanation-2: -US Unemployment Rate is at 3.40%, compared to 3.50% last month and 4.00% last year. This is lower than the long term average of 5.73%.
Detailed explanation-3: -The cyclical unemployment rate is the difference between the natural unemployment rate (unemployment due to workers coming and going or searching for other work) and the current rate (the total amount of unemployed).
Detailed explanation-4: -True full employment is an ideal-and probably unachievable-situation in which anyone who is willing and able to work can find a job, and unemployment is zero. It is a theoretical goal for economic policymakers to aim for rather than an actually observed state of the economy.