Define natural rate of unemployment-cyclical unemployment

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1. Define the natural rate of unemployment and cyclical unemployment.

2. How does the government measure the economy’s rate of unemployment?

3. What problems arise in interpreting unemployment data?

4. Describe the two things that limit the precision of the Fed's control of the money supply and explain how each limits that control.

5. Why do Federal Reserve Board of Governors have long (14 year) terms?

Reference no: EM13887868

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