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Extinction is accomplished by terminating reinforcement.
Real Wage
The purchasing power of an individual's earnings, taking into account the effects of inflation.
Aggregate Supply
The cumulative supply of products and services planned for sale by firms in an economy within a specific time period.
Cyclical Unemployment
Unemployment caused by a downturn in the economic cycle, such as a recession, which reduces the demand for goods and services.
Structural Unemployment
Unemployment caused by a mismatch between workers' skills and the requirements of available jobs, often due to technological or economic changes.
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