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The natural rate of unemployment is defined as the rate of unemployment that would occur in an economy if there were no cyclical unemployment. In othe
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Scooped by Graham Watson |
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Graham Watson's insight:
Forgive me - I missed this particular birthday treat from Marginal Revolution University - a lovely summary of the Natural Rate of Unemployment. However, be warned, many (including the IB syllabus) argue that that Natural Rate of Unemployment also includes seasonal unemployment, as well as structural and frictional unemployment.
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