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Why Might a Favourable Change to the Economy Such as Technological

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Essay

Why might a favourable change to the economy such as technological change or a decrease in the price of imported oil be associated with an increase in frictional unemployment?


Definitions:

Human Capital

The economic value of an individual's skills, knowledge, and experiences.

Future Earnings

Projected profits or income of a company or individual, often used in investment analysis to evaluate potential growth.

Nonmonetary Considerations

Factors influencing decisions that are not based on money or financial gain, such as ethics or environmental impact.

Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

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