Can anyone help me with these two simple economics questions ?

Question

i have two multiple choice questions.

1) which statement is true?

a. both keynes & the classicals believed that equilibrium GDP & full employment GDP are equal.

b. neither keynes nor the classicals believed that equilibrium GDP & full employment GDP are equal.

c. keynes believed that equilibrium GDP & full employment GDP are equal, but classicals did not.

d. the classicals believed that equilibrium GDP & full employment GDP are equal, but keynes did not.

2. WHen we are at full employment

a. the unemployment rate is 0

b. the cyclical unemployment rate is 0. (answer i chose)

c. the structural unemployment rate is 0.

d. the frictional unemployment rate is 0.

e. none of the above

THANK YOU IN ADVANCE :)

Answer 1

I think the first one is A because accounted for the full employment output at equilibrium. The difference is the elasticity of aggregate supply.

For the second question, you chose correctly, because frictional unemployment deals with mobility, and structural unemployment still occurs when the economy is at full production. There is no structural unemployment at full output, though.

I hope that helped.