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What are manganese nodules? How are they formed? Using the information regarding the usefulness of these nodules, can you infer why the mining of these nodules could become a political issue?
Equilibrium Wage
The wage rate at which the quantity of labor supplied equals the quantity of labor demanded.
Structural Unemployment
Unemployment that results from industrial reorganization, typically due to technological change, rather than fluctuations in supply or demand.
Equilibrium Level
A state in which market supply and demand balance each other, resulting in stable prices and quantities.
Unemployment
The condition of being without a job, while actively looking for one and being willing to work.
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