Full employment is a concept, which is often referred to but seldom defined. Beveridges description comes close to what most economists understand by the term. In his view full employment means that unemployment is reduced to short intervals of standing by, with the certainty that very soon one will be wanted in ones old job again or will be wanted in a new job that is within ones powers. In other words, full employment does not mean zero unemployment, but allows for some measure of acceptable unemployment, for example, frictional unemployment whilst changing jobs.
Question: Some economists do not understand full employment in Beveridges terms.
Options:
A. true, B. false, C. uncertain
Answer: A