Question

when the people work less than potential, it is called _______

Answer 1

Answer:

your answer is unemployment

Explanation:

Natural Unemployment and Potential Real GDP

The natural rate of unemployment is the unemployment rate that would exist in a growing and healthy economy. ... By contrast, when the economy is below full employment, the unemployment rate is greater than the natural unemployment rate and real GDP is less than potential...

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Answer 2

Answer:

The economy is below full-employment equilibrium when its short-run GDP is lower than thepotential GDP. When the economy is operating below full employment, some labor, capital, or other resources are unemployed (beyond the natural rate of unemployment).

Explanation:

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