What do Monetarists believe can be barriers to achieving full employment?

Monetarists believe that barriers to achieving full employment can include the immobilization of labor. This concept refers to the difficulty in matching workers with job vacancies, which can arise from various factors such as geographical mobility issues, skill mismatches, or rigid labor market policies. When labor is immobilized, it cannot move freely to where job opportunities are available, thereby preventing full employment.

Monetarists emphasize the importance of monetary policy and the control of inflation in the economy, but they also recognize that labor market dynamics play a crucial role in employment levels. If the workforce is not flexible or responsive to changes in the job market, it can hinder the overall employment potential, leading to higher levels of unemployment despite available jobs.

High consumer spending, increased international trade, and low inflation rates do not directly correlate with barriers to achieving full employment in the same way as labor immobilization. While these factors can influence economic conditions and job availability, they do not encapsulate the specific obstacles related to labor mobility and employment mismatches that monetarists focus on.