Many economists view the natural rate of unemployment as the level observed when real GDP is given

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Many economists view the natural rate of unemployment as the level observed when real GDP is given by the position of the long-run aggregate supply curve. How can there be positive unemployment in this situation?

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Economics Today

ISBN: 978-0132554619

16th edition

Authors: Roger LeRoy Miller

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Question Posted: Aug 01, 2016 12:39 PM

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Many economists view the natural rate of unemployment as the level observed when real GDP is given

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At the long run aggregate supply curve LRAS all the factors of prodduction ar...View the full answer

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