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7 June, 20:36

The frictional unemployment rate is 2.5 percent, the structural unemployment rate is 3.1 percent, and the current unemployment rate (in the economy) is 5.6. The economy is in

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  1. 7 June, 20:49
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    If the frictional unemployment rate is 2.5 percent, the structural unemployment rate is 3.1 percent, and the current unemployment rate (in the economy) is 5.6, then the economy is in a recessionary gap producing natural real gdp.

    A recessionary gap, or contractionary gap, is a macroeconomic term which refers to the difference between actual and potential production in an economy.
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