Structural Unemployment Is Often Thought to Explain Relatively Short Spells

question 179

True/False

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

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Definitions:

Marginal Product

The additional output that is produced by adding one more unit of a specific input, ceteris paribus (with all other inputs held constant).

Bushels

A unit of volume that is used to measure agricultural commodities like grains and fruits.

Total Product Curve

A graphical representation of the production function, showing how the quantity of output depends on the quantity of the variable input for a given quantity of the fixed input.

Fixed Input

An input whose quantity is fixed for a period of time and cannot be varied (for example, land).