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Unformatted text preview: searching o Types of unemployment Frictional: quit jobs but in a few weeks will have a new job Structural: refers to those people that are unemployed and are not likely to find a job because the market is looking for a different kind of killed worker Cyclical: GDP based Increases in recessions Decreases in booms-Low inflation rates o Purchasing power: measures volume of goods and services that a given amount of money will buy o Real wages: wages/CPI Adjusted for inflation...
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