Asked by
Tyeka Robinson
on Nov 16, 2024
Verified
Cyclical unemployment refers to the year-to-year fluctuations in unemployment around its natural rate.
Cyclical Unemployment
The deviation of unemployment from its natural rate.
Natural Rate
The rate of any economic activity that is considered to be sustainable in the long term without causing inflation; often used in the context of unemployment.
- Comprehend the concepts of natural rate of unemployment and cyclical unemployment.
Verified Answer
CR
Learning Objectives
- Comprehend the concepts of natural rate of unemployment and cyclical unemployment.