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Since Unemployment Rates Are Consistently Higher in Some EU Countries

question 51

Essay

Since unemployment rates are consistently higher in some EU countries like Spain and Greece than in Germany, it appears that the natural rate of unemployment is lower in Germany. What might explain this difference?


Definitions:

Total Profits

The total income of a business after all expenses have been deducted from total revenues.

Production Techniques

Methods and processes used in the transformation of inputs into outputs or goods and services by a firm.

Widgets

A generic term often used to describe an unspecified or hypothetical manufactured product.

Labor

The use of mental and physical capabilities in the creation of products and services.

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