Daily Review--Unemployment

Last night's debate, inspired a couple of econ 101 review questions.

4. The non accelerating inflation rate of unemployment is:

            a. the natural rate of unemployment

            b. the full employment line

            c. long-run equilibrium

            d. can vary over time

            e. all are correct

5. Structural unemployment is:

            a. obsolete skills

            b. equal to cyclical unemployment minus frictional unemployment

            c. related to job search

            d. procyclical

            e. non existent

The answers are: e and a.  Here's a fact.  When I post daily review questions, readership falls dramatically.  I think that structural unemployment is the reason behind the 9.1% unemployment rate.  All of the politicians can talk about job creation, but there's nothing they can do about it.