What is Natural Rate of Unemployment?
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What is Natural Rate of Unemployment?

What is Natural Rate of Unemployment?
in Economics
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What is the Definition of Natural Rate of Unemployment?
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Natural rate of Unemployment It refers to the rate of unemployment which always exists in the economy even when labour market is in a state of equilibrium. It occurs largely due to :

(i) Time required in shifting from one job to the other, and

(ii) Time required in adjusting to changes in technology.

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