Why Might a Favorable Change in the Economy, Such as Technological

question 54

Essay

Why might a favorable change in the economy, such as technological improvement or a decrease in the price of imported oil, be associated with an increase in frictional unemployment?

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Definitions:

Creativity-Relevant Processes

Cognitive and behavioral processes that facilitate creative thinking, including problem-solving, risk-taking, and drawing connections between ideas.

Creativity

The ability to generate or recognize ideas, alternatives, or possibilities that may be useful in solving problems, communicating with others, and entertaining ourselves and others.

Motivation

The intrinsic or extrinsic factors that stimulate desire and energy in people to be continually interested in and committed to a job, role, or subject, or to make an effort to attain a goal.

Exploitative Innovation

Innovation focused on refining existing products, services, or processes to enhance efficiency and effectiveness.