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True or False? Make explanation please. If u-un is equal to zero, the output is at...

True or False? Make explanation please.

If u-un is equal to zero, the output is at potential.

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Answer #1

TRUE

When the difference between unemployment and natural rate of unemploymnet equals 0 , then that means unemployment is at natural level.

When unemployment is at natural level then that means there is no unwanted unemployment only 'natural' unemployment exists in which there is frictional unemployment and is bound to exists. So this means at this natural rate all resources are employed so economy is operating at potential. When economy is operatiing at potential it produces potential level output.

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