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The Cost of Training Employees Would Be Classified as an External

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The cost of training employees would be classified as an external failure cost.


Definitions:

Loanable Funds

The money available for borrowing in the financial market.

Equilibrium Rate

The price or point at which the quantity of a good or service supplied matches the quantity demanded.

Loanable Funds

The market where savers supply funds for loans to borrowers, often influenced by interest rates.

National Saving

The total amount of savings generated within a country, including both private savings by households and public savings by the government.

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