What's it: The natural rate of unemployment (NARU) is the unemployment rate when the economy is operating at full employment. Sometimes, it
Potential GDP
Long-Run Macroeconomic Equilibrium and Its Explanation
What's it: Long-run macroeconomic equilibrium occurs when the aggregate demand curve intersects the short-run aggregate supply curve at the point
Potential GDP: Determinants, Importance, How to Calculate It
What's it: Potential GDP refers to the maximum output an economy can produce using its existing economic resources. It represents an economy's