Define natural rate of unemployment
- Define natural rate of unemployment (also known as full employment unemployment or NAIRU-Non Accelerating inflation rate of unemployment).
- What is the difference between unemployment rate and natural rate of unemployment (NAIRU)?
- What is the current natural rate of unemployment? How did it change in the past 30 years? What kinds of factors affect the natural rate of unemployment?
- Considering that the current unemployment rate is 4.7% , what kind of policies should the government and the Fed implement? (You can use Keynesian or the Classical-Supply side approach)
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