Help!!! intro to economics!!!?

Question

Indicate whether each statement is True, False or Uncertain and provide a brief explanation.

The unemployment rate can be reduced to zero.

Answer 1

false

you want to understand economics?

Read Capitalism in Material Life by Fernand Braudel.

That may help you see the meaning of the picture.

Answer 2

False

There will always be frictional unemployment; that is, unemployment that is caused by people who quit one job and are waiting to start another job or recent graduates who are waiting for their job to start.  And that's if structural and cyclical unemployment is eliminated, which is pretty unlikely.

Answer 3

False.

Technically, full employment is said to occur in an economy when all available resources are being used to produce goods and services. The important point to note , however is that this definition does not imply zero unemployment.

The simple economic fact is that there will always be some unemployment when the labour market is in equilibrium. This is only natural as people move between jobs. Hence, when there is full employment, economists talk about the existence of a natural rate of unemployment.

Good question.