Examlex
The 1960s and the early 1970s was a time in which:
Structural Unemployment
People who remain unemployed for long periods of time, often with little hope of finding new jobs like their old ones.
Specialized Knowledge
Expertise or skills focused on a specific branch of study, occupation, or field of endeavor, distinguished by its depth and proficiency.
Cost-Push Inflation
Inflation caused by an increase in prices of inputs like labour, raw material, etc., leading to a decrease in the supply of these goods.
Raw Materials
Fundamental materials that are used in the production process to create goods and products.
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