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UNEMPLOYMENT SOURCES: The unemployment of resources in general, and labor in particular, can be attributable to four basic reasons, or sources: cyclical, seasonal, frictional, and structural. Cyclical unemployment is involuntary unemployment created by business cycle recessions. Seasonal unemployment is relatively regular, read this as predictable, unemployment tied to a particular job. Frictional unemployment is temporary unemployment created when workers switch jobs. Structural unemployment is relatively permanent unemployment created because workers' skills are not the same as the skills needed on the job.
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SELLERS' EXPECTATIONS, SUPPLY DETERMINANT The expectations that sellers have concerning the future price of a good, which is assumed constant when a supply curve is constructed. If sellers expect a higher price, then supply decreases. If sellers expect a lower price, then supply increases. Sellers' expectations are one of five supply determinants that shift the supply curve when they change. The other four are resource prices, production technology, other prices, and number of sellers.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet trying to buy either a set of serrated steak knives, with durable plastic handles or a pair of blue silicon oven mitts. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"People of mediocre ability sometimes achieve outstanding success because they don't know when to quit. " -- George Allen, U.S. senator
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CHIPS
Clearing House Interbank Payments Systems (US)
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