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In what sense is frictional unemployment "good" for the economy?
United Nations
An international organization founded in 1945 aimed at promoting peace, security, and cooperation among countries.
Import Tariff
A tax imposed by a government on goods and services imported from other countries, used to control trade.
Deadweight Loss
A loss of economic efficiency that can occur when equilibrium in a market is not achieved or is not achievable.
Free Trade
An economic policy that allows imports and exports among member countries with little to no tariff barriers, quotas, or subsidies.
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