Solved: Because of a reduction in demands for goods and services, Macroeconomics

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Because of a reduction in demands for goods and services

Because of a reduction in demands for goods and services production and real GDP go down. As a result many people lose their jobs. These people who lose their jobs are classified as:

Frictionally unemployed
Structurally unemployed
Cyclically unemployed
Not in labor force.

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Macroeconomics: Because of a reduction in demands for goods and services

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Macroeconomics: Because of a reduction in demands for goods and services

Reference No:- TGS01397103

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