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What is the difference between a thermostat by-pass hose and a carburetor fuel hose?
Equilibrium Level
The state in which market supply and demand balance each other, and as a result, prices become stable.
Structural Unemployment
A situation where there is a mismatch between the skills workers have and the skills needed by employers due to technological changes or other factors.
Labor Unions
Organizations formed by workers from related fields that work for the common interest of its members in terms of wages, working hours, working conditions, and other employment matters.
Natural Rate
The unemployment rate at which the economy operates at full capacity, with only frictional and structural unemployment.
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