Structural Unemployment Is the Result of

question 33

Multiple Choice

Structural unemployment is the result of

• A)technological change or foreign competition.
• B)normal labor market turnover.
• C)a slowdown in the rate of economic expansion.
• D)irresponsible workers with poor work habits.
• E)changing weather patterns through the year.

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Definitions:

First-Mover Advantage

The competitive advantage gained by the initial significant occupant of a market segment, allowing for the establishment of strong brand recognition and customer loyalty before rivals enter the market.

Simultaneous Game

refers to a strategic game where all players make their decisions at the same time, without knowledge of the others' choices.

Nash Equilibrium

A concept in game theory where no player can benefit by changing strategies while the other players keep theirs unchanged.

Zero-Sum Game

A situation in game theory where the gain or loss of one player is exactly balanced by the losses or gains of the other participants.