Real-Wage Unemployment Is

question 3

Multiple Choice

Real-wage unemployment is:

• A) a mismatch between the skills workers can offer and the skills that are in demand.
• B) unemployment caused by workers who are changing their location, job, or career.
• C) the effect of wages remaining persistently above the market-clearing level.
• D) also called cyclical unemployment.

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Definitions:

Technology

Refers to the application of scientific knowledge for practical purposes, especially in industry and in the design, production, and use of tools, machines, and software.

Competency-Based Management

An approach to management that focuses on assessing, managing, and developing employees' skills and competencies to meet organizational goals.

High Performers

Individuals within an organization who consistently exceed set performance expectations and contribute significantly to its success.

Work Flow

The sequence of and balance between jobs in an organization needed to produce the firm’s goods or services.