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Suppose a firm can not figure out whether the demand for the good it sells is elastic or inelastic but discovers that every time it raises its price, its total revenue declines. Their
Unemployed
The status of a person who is capable of working, is seeking work, but is unable to find employment.
Unemployment Insurance
A government-provided insurance that offers financial assistance to unemployed workers who have lost their jobs through no fault of their own.
Job Search
The process of looking for employment, involving the exploration of available positions and the submission of applications.
Structural Unemployment
A form of unemployment caused by fundamental changes in the economy that result in a significant mismatch between the skills workers offer and the skills demanded by employers.
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