Full Employment GDP: Definition and Examples Video

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question 1 of 3

What is full employment GDP?

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1. Classical economists also refer to full employment as _____.

2. Why is unemployment not equal to zero at the full employment level of output?

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About This Quiz & Worksheet

This quiz and worksheet combo can help assess your understanding of economic principles, such as full employment GDP and the definition of full employment.

Quiz & Worksheet

This quiz/worksheet combo can assess your knowledge of:

  • Full employment level of GDP
  • Theories of classical economists
  • Unemployment
  • Non-accelerating inflation

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the related economic lesson
  • Problem solving - use acquired knowledge to solve GDP practice problems
  • Information recall - access the knowledge you have gained regarding unemployment

Additional Learning

To learn more about full employment GDP, review the accompanying lesson Full Employment GDP: Definition and Examples. This lesson covers the following objectives:

  • Define full employment GDP
  • Illustrate full employment GDP
  • Find the relation of full employment GDP and economic growth
  • Learn about the principles behind frictional unemployment
  • Examine the relationship between full employment and inflation
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