Examlex
If you don't get the job, which is the MOST plausible explanation?
Technological Improvements
Enhancements or advancements in technology that increase production efficiency, product quality, or introduce new goods and services.
Full Employment
A situation in which all available labor resources are being used in the most economically efficient way, typically characterized by the absence of cyclic unemployment.
Production Efficiency
A level of production in which the economy can no longer produce additional amounts of a good without lowering the production level of another product.
Production Inefficiency
A situation where a firm or economy is not producing at the lowest possible cost or maximally utilizing its resources, leading to waste or lost potential output.
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