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QUESTION 8 According to the Bureau of Labor Statistics, the actual unemployment rate was 8.3% in February 2012 and the natura
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Answer #1

The natural rate of unemployment includes the structural unemployment and the frictional unemployment. It does not include the cyclical unemployment. The actual unemployment includes frictional unemployment, cyclical unemployment and the structural unemployment. So, the difference between the actual unemployment and the natural rate of unemployment is the cyclical unemployment.

The actual unemployment rate is 8.3% whereas the natural rate of unemployment is 5.2%. So, 8.3% - 5.2% = 3.1% is the cyclical unemployment. Therefore, the correct answer is 'Option B'.

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