Asked by Ariel Kirkpatrick on Apr 27, 2024
Verified
The unemployment rate never falls to zero.
Unemployment Rate
The proportion of the labor force that is without work but actively seeking employment and willing to work, expressed as a percentage.
- Accept that due to diverse factors like job search and matching activities, unemployment rates will never diminish to zero.
Verified Answer
ZK
Zybrea KnightMay 04, 2024
Final Answer :
True
Explanation :
Even in a healthy economy, there is always some level of unemployment due to factors like frictional unemployment (people transitioning between jobs) and structural unemployment (mismatches between job seekers' skills and job requirements).
Learning Objectives
- Accept that due to diverse factors like job search and matching activities, unemployment rates will never diminish to zero.