full employment definition

full employment

State of economy in which all eligible people who want to work can find employment at prevailing wage rates. However, it does not imply 100 percent employment because allowances must be made for frictional unemployment and seasonal factors.

full employment is in the Economics, Politics, & Society subject.

full employment appears in the definitions of the following terms: Pigou effect, neoclassical economics, Keynesian economics, mercantilism and neo classical economics

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