How Has the Movement to a Service Economy Affected the Types

question 17

Short Answer

How has the movement to a service economy affected the types of jobs available in the Canadian economy?

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Definitions:

Short Run

A period in economics where the quantities of some inputs or resources cannot be changed.

Unemployment

A situation where individuals who are capable of working and willing to work at prevailing wage rates cannot find employment.

Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, subsequently eroding purchasing power.

Friedman

Refers to Milton Friedman, a prominent economist known for his work on monetarism, advocating for free markets and a limited role of government in the economy.