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Economic final part 4

AB
human capitaleducation, training, experience
profitrevenue exceeds cost
worker specializationgreater productivity
unionsnegotiate workplace rules
wagespart of labor resources
transfer paymentmoney for no work
frictional unemploymentbeing out of work because your moving
structural unemploymentbeing out of work because technology replaced you
diminishing marginal returnbenefits eventually become negative
collective bargainingwhere unions get their strength


12th Grade Consultant
Schalmont High School
Schenectady, NY

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