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One criticism of the behavioral approach in the past is that
Structural Unemployment
Unemployment resulting from industrial reorganization, typically due to technological change, rather than fluctuations in supply or demand.
Labor Market
The supply and demand for labor, where employers seek to hire workers and workers look for jobs.
Unemployment
A measure of the number of people who are actively looking for work but aren't currently employed.
Cyclical Unemployment
Unemployment that is linked to the cyclical trends in the economy, typically increasing during recessions and decreasing during expansions.
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