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Key terms: rate unemployment nairu full employment level inflation policy economics means economy natural economists unemployment rate oecd wage estimate zero labour milton friedman stock worse defined posited workers supply employed lowest phelps equals suggests output sustained nonsense long run cyclical there is no those who structural unemployment mainstream rate of unemployment frictional prime minister james tobin unemployment types macroeconomics phillips curve unemployment above willing and able to work natural rate of unemployment Search external links cited by footnotes on Wikipedia page Full employment: |
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