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Define and give examples of how territoriality is used differently in different cultures.
Frictional Unemployment
The short-term unemployment arising from the process of matching workers with jobs, often seen as a normal part of labor market functioning.
Sectoral Shifts
Changes in the economic landscape that cause resources to be allocated differently across various sectors of the economy.
Structural Unemployment
A form of unemployment caused by a mismatch between the skills held by the unemployed and the skills demanded by the prevailing job market.
Natural Rate Of Unemployment
The level of unemployment consistent with a stable rate of inflation, where labor market is in equilibrium.
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