Answer the Following Questions

question 78

Essay

Answer the following questions:
a.Describe the three types of unemployment.
b.Explain why economists believe some types of unemployment are efficient and some are not. Which ones are which?

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Definitions:

Marginal Tax Rate

The rate at which the next dollar of taxable income would be taxed, often applied to measure the impact of taxes on additional income.

Exchange Rate

The velocity at which one currency can be swapped for another, affecting global trade and investments.

Tax Impact

The effect that various forms of taxation have on individual or company finances, including income, capital gains, and sales taxes.

Floating Exchange Rate

A currency system where the value of a currency is allowed to fluctuate according to the foreign exchange market.