Macroeconomics, CH 9, unemployment and its natural rate Flashcard Example #91990

natural rate of unemployment the amount of unemployment the economy normally experiences in the long runthe observed unemployment rate fluctuates around the natural ratethe observed unemployment rate differs from the natural rate due to the existence of cyclical unemployment cyclical…

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Macroeconomics Ch. 10 Flashcard Example #38423

“Smart” vending machines, which adjust prices automatically according to changes in demand factors (like time of day or outside temperature), are examples of:meeting demand at preset prices.skill-biased technological change.flexible price setting.capital equipment that is less expensive than standard equipment. flexible…

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Sociology Chapter 16: The Economy and Work Flashcard Example #85422

economy the social institution that organizes a society’s production, distribution, and consumption of goods and services social institution the major spheres of social life, or societal subsystems organized to meet human needs postindustrial economy a productive system based on service…

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