Can someone please explain the difference between the full employment and below full employment?

what would happen if our ecnomy was operating below full employment, what would happen according to the classical and keynesian theory to move the econmoy back toward full employment?

Can someone please explain the difference between the full employment and below full employment?
At full employment there is no "cyclical unemployment" which means that all qualified workers find jobs within a modest time frame. If the economy is below full employment then some workers who should be able to find work with their skills and education will have at least some trouble or delays getting hired.





In the classical model (long run), the economy moves back to full employment provided wages and prices are allowed to adjust. This typically means lower wages and prices, which pushes economic activity back toward equliibrium.





The Keynesian model allows for short run output levels above or below full employment. If aggregate expenditure is increased, whether through extra government spending or a temporary tax cut stimulus, demand will be brought back up and the economy returns to full employment. This is only temporary; if you leave the stimulus in effect after the economy recovers it will lead to inflation and overheating.
Reply:Full Time vs Part Time Employment





Full time Employment is when you work 40 hours per week or more. If you work 8 hours a day, or more, and you work Monday-Friday then you would be working 40 hours a week and considered full time.


example: Monday thru Friday


8am to 5pm


this would be 40 hours a week and FULL TIME








Part time employment would be less than 40 hours a week.


If you worked only 4 hours each day Monday - Friday that would be 20 hours per week and considered part time.
Reply:Full employment is considered to occur when less than a certain percentage of the population is unemployed (I think it is 4 or 5%). If the percentage is above that, it is "below full employment". Not sure about how your economic theories work on this.