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单词 natural-rate hypothesis
释义

natural-rate hypothesis

Definition
A theory regarding the labor market and its structure. The theory states that the free labor market must always include some unemployment, and the originator of this hypothesis, Milton Friedman, described a baseline rate of unemployment, which was unavoidable. This is the sum of frictional and structural unemployment rates, ignoring any cyclical unemployment rates.
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更新时间:2025/5/8 23:08:25