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Agree or disagree with each of the following statements and explain your answer.
a) The economy cannot be considered fully employed until measured unemployment is less than 1% of the labor force.
b) It is possible for an economy to operate for a time with an unemployment rate less that the "natural" unemployment rate. (Also known as NAIRU, the non-accelerating inflation rate of unemployment).
This document contains various important questions and their appropriate answers in the subject field of Economics.
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