Structural Unemployment Is Often Thought to Explain Relatively Long Spells

question 302

True/False

Structural unemployment is often thought to explain relatively long spells of unemployment.

---

Definitions:

Competition

The effort and striving between two or more independent rivals to secure the business of one or more third parties by offering the best possible terms.

Economic Power

The ability of individuals, companies, or countries to control or influence the market, including prices, distribution, and availability of goods.

Command System

An economic system where the government makes all decisions on production and consumption.

Central Planning

An economic system where the government or a centralized authority makes all decisions regarding the production and distribution of goods and services.