The following question are based on the following information:
-When the total amount spent on final goods and services falls short of the total value of final goods and services produced
Definitions:
Technical Skills
Specific knowledge or abilities required for a particular job or activity, often relating to competence in a certain craft or technology.
Cognitive Skills
The mental capabilities involved in learning, thinking, problem-solving, and decision-making.
External Labor Market
Individuals who are actively seeking employment.
Actively Seeking Employment
The state of being engaged in activities aimed at finding employment, such as submitting job applications, attending interviews, and networking.
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