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Full employment doesn't mean that there is zero unemployment. Full employment only means that the economy is operating at full employment because there is only structural unemployment, frictional unemployment, and seasonal unemployment. Remaining unemployment is cyclical.
Even when an economy is working properly, it will experience frictional, seasonal, and structural unemployment. (gp)
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Potential GDP is the same as real GDP when?
the economy is operating at full employment. Note: full employment is not the same as zero unemployment.
If the price level rises and the money wage rate rises by the same percentage what happens to the quantity of real GDP supplied?
When the price level and the money wage rate change by the same percentage, the real wage rate remains constant at its full employment equilibrium level so employment remains constant and real GDP remains constant at "potential GDP" which is the quantity of real GDP at full employment.
What happens when supply increases?
when the supply of a commodity increases but demand remains constant then price of the commodity falls which is called deflation with the result unemployment rises.on the other hand if supply rises and if demand also rises with same rate then this would have positive effect on the economy as the employment rises with out inflation.
How are monetary and fiscal policy similar?
Both monetary and fiscal policy may be used to influence the performance of the economy in the short run. They share many of the same goals which are to: keep inflation low, maintain positive economic growth, and aim for full employment.
What is potential output in macroeconomics?
Potential output is the capacity to produce should all factors be employed in an economy. For example, it is the output should there be no unemployment, no spare labour and no spare capital. It is unlikely that actual output will be the same as potential ouput since there is always unemployment.
Why isn't full unemployment the same as zero unemployment?
Full employment doesn't mean that there is zero unemployment. Full employment only means that the economy is operating at full employment because there is only structural unemployment, frictional unemployment, and seasonal unemployment. Remaining unemployment is cyclical. Even when an economy is working properly, it will experience frictional, seasonal, and structural unemployment. (gp)
Potential GDP is the same as real GDP when?
the economy is operating at full employment. Note: full employment is not the same as zero unemployment.
What is considered to be full time unemployment?
when a person works 40 hours a week with the same company, this is considered full time employment, unemployment on the other hand should only be temporary, unless the person is disabled, so there is really no such thing as full time unemployment unless the person can no longer work and requires government assistance.
Can you draw unemployment and retirement at the same time in Florida?
You can draw from the various retirement plans and unemployment, but if you mean you're going to retire, that would violate the conditions of having to constantly seek full time employment and would make you ineligible.
Can inflation and employment happen at the same time?
A rise in unemployment will lead to a fall in inflation...this is best explained by the philips curve
Is cyclical unemployment and the natural rate of employment the same?
Natural Rate of Unemployment -The natural rate of unemployment is unemployment that does not go away on its own even in the long run. -It is the amount of unemployment that the economy normally experiences.Cyclical Unemployment -Cyclical unemployment refers to the year-to-year fluctuations in unemployment around its natural rate. -It is associated with with short-term ups and downs of the business cycle.
Can a person collect unemployment benefits and workmans compensation benefits at the same time in the state of Texas?
No. You would collect Workman's Compensation benefits because you were unable to work, thus disqualifying you from collecting unemployment (you have to be seeking full time employment to qualify for this).
Is supplemental unemployment the same as unemployment?
no
Collecting unemployment benefits after layoff. Eligible for FULL SS in a month. Can I collect both unemployment insurance benefits and social security benefits at the same time in California?
I currently collecting unemployment and will be eligible for SS in a month. May I apply for my Social Sucurity while I am collecting unemployment?
Can you work in Arizona full time and collect unemployment in Illinois?
It might be possible. It's almost certainly illegal, though.Normally you can work and collect unemployment at the same time, though your unemployment benefits will be reduced somewhat. This is intended to cover people who are employed only part time and are looking for (and previously had) full time work. So you can take a job that only gives you two days a week without completely losing your unemployment benefits for the other three days.However, if you're working full time in Arizona, clearly you aren't looking for full time employment in Illinois. I mean, you might PREFER full time employment in Illinois, but you really aren't in the kind of situation unemployment insurance was designed to cover, since one of the things you have to verify every two weeks when you turn in your unemployment forms is that you were a) looking for work and b) available for work on the days you're claiming to be unemployed. A person in the situation MIGHT fit a, but certainly wouldn't fit b (they couldn't work in Illinois on those days, because they were already working in Arizona on those days). It would be sort of like saying "I'm working full time as a waiter, but I really want to be a movie star, so I should get unemployment too."
What do you do if you're on unemployment and you go on vacation?
In most states, you have to prove you are able, willing, and actively seeking full time work and report same on at least a weekly basis. If you are on vacation, it would seem you could not comply with those conditions. Check with your state employment security office for clarification.
Is the Nigerian educational system to be blamed for the unemployment rate in Nigeria?
Nigeria's education system is very poor, especially government schools. Due to the lack of education Nigeria's working class receive, they are stuck doing the same types of jobs, i.e., Laborers, Market sellers, etc. This makes the employment market for primary sectors like this very full, which in return, increases unemployment. Though this is the case, it cannot be said that this is the only thing to blame for unemployment. Newly graduated students are also going through high unemployment. This may be simply because many are doing the same type of causes in University, such as Law, Business, or Medical education. Therefore, these industries are also going through high unemployment and Low salaries. In industries such as IT and Social Work, there seems to be high employment and substantial salaries. This is because these industries are booming in Nigeria's economy.
