Examlex
The use of theory and observation is more difficult in economics than in sciences such as physics due to the difficulty in
Structural Unemployment
A form of unemployment caused by a mismatch between the skills that workers in the economy can offer and the skills demanded by employers.
Structural Unemployment
Refers to unemployment caused by structural changes in the economy such as technological advances, which create mismatches between the skills workers have and the skills needed for available jobs.
Demand Shifts
Demand shifts occur when the overall demand for a product or service increases or decreases due to changes in consumer preferences, income levels, prices of related goods, and other factors.
Technology Changes
The process of innovation and improvement in technology, affecting productivity, efficiency, and society's overall way of life.
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Q376: Macroeconomics is the study of economy-wide phenomena.
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Q536: When studying the effects of public policy