Participate in a discussion with your classmates regarding
natural unemployment. Review the “EYE on Your Life” caption titled,
Natural Unemployment, on page 209 in the textbook. Now that we have
learned that potential GDP is the value of real GDP when all the
economy’s factors of production - labor, capital, land, and
entrepreneurial ability - are fully employed, discuss how these
factors render natural unemployment as productive when considering
potential GDP. Please apply the production function and labor
market concepts...