Homework Answers
Ans 1.) Option - C
Long run macroeconomic equilibrium means that all the factors in an economy are fully employed and the level of actual output is equal to the potential output of an economy.
So, in the long run equilibrium, unemployment is at its natural rate which means that there is only frictional and structural unemployment existing in the economy.
Ans 9.) Option - B
Frictional unemployment occurs when a worker is looking for some
other job.
As it is given in the question that the employee has quit his job
in order to find most interesting work. So, this is frictional
unemployment.
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