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  • Hmm what does that mean?
  • After this commercial we are going to talk about the NRU and the full employment output.
  • ...
  • It means the natural rate of unemployment
  • It's the frictional plus structural unemployment, but full employment is the real GDP when there is no cyclical employment
  • Remember when I use to build computers, well that is considered technological unemployment which is part of the structural uneployment.
  • For frictional unemployment Santa Claus could be part of that because he is seasonal unemployment
  • shhhhh
  • Now go to bed before he gets here.
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