In the analysis of unemployment in the labour demand - supply framework, at the actual level of employment below the equilibrium level of employment
1
the marginal product of work is lower than the foregone cost of other activities for workers.
2
the money wage rate as well as the real wage rate remains fixed.
3
the expected price level is equal to the price level at that equilibrium.
4
the marginal product of work is greater than the foregone cost of other activities for workers.