Identify and explain significant aspects associated with the task of measuring unemployment.© BrainMass Inc. brainmass.com March 4, 2021, 7:28 pm ad1c9bdddf
Proposed by the American economist Milton Friedman (1912-1992), NARU refers to the rate of unemployment, which occurs when all markets are in an equilibrium position. Thus the natural rate of unemployment is the equilibrium rate of unemployment. There are four type of unemployment:
- Frictional unemployment: This is simply the time it takes a company to match a qualified job applicant ...
243 words with a reference to outline important steps and aspects to keep in mind when attempting to gain an accurate measure of unemployment rates.