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What are the two classifications of business products?
Frictional Unemployment
A form of unemployment that occurs when people are between jobs or are in the process of finding new jobs, usually reflecting short-term movement within the labor market.
Natural Rate
Often referred to as the natural rate of unemployment, indicating the level of unemployment expected in an economy without short-term cyclical fluctuations.
Tastes and Skills
Individual preferences and abilities that influence consumer behavior and labor market dynamics, affecting demand for goods and employment opportunities.
Right-to-Work Laws
Legislation that prohibits requiring employees to join a union as a condition of employment, aiming to protect workers' rights to choose.
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