What's it: Long-run macroeconomic equilibrium occurs when the aggregate demand curve intersects the short-run aggregate supply curve at the point
Full Employment
Why does full employment not mean 0 unemployment
Does full employment mean no unemployment? The answer is no. When the economy operates at full employment, unemployment remains. The unemployment rate
Full Employment: Meaning, Implication for Unemployment
What's it: Full employment means an economy is fully utilizing its productive resources. At this condition, the economy produces at its potential