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The economy has frictional unemployment of 3.2%, structural unemployment of 2.4%, and cyclical unemployment of2.9%. What is the natural unemployment rate for this economy? Define

The economy has frictional unemployment of 3.2%, structural unemployment of 2.4%, and cyclical unemployment of2.9%.

What is the natural unemployment rate for this economy?

Define the natural unemployment rate.

What type(s) of unemployment will not exist at full employment?

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