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What are the reasons for the high unemployment rate in the United States?
Sensitive
Responsive or easily affected by external conditions or stimuli.
Economic Theory
A concept or principles developed to explain how economies work and how economic agents interact.
Substitute Goods
Goods or services that act as substitutes for each other, meaning that if the price of one goes up, the demand for the other also rises.
Production Costs
The total expenses incurred in manufacturing a product or offering a service, including raw materials, labor, and overhead.
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