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What are self-affirmations and how can they be used to ward off cognitive dissonance?
Average Level
A mean or typical value obtained by dividing the total of all observed values of a variable by the number of observations.
Discouraged Workers
Individuals who are not actively seeking employment due to believing that no jobs are available for them or there are no jobs for which they would qualify.
Frictional Unemployment
Unemployment that occurs when people are between jobs or are entering the workforce for the first time.
Imperfect Information
A situation in which parties in a transaction have unequal or inadequate information, leading to market inefficiencies.
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