Part of the normal process of economic growth and, Ask an Expert

Economics

When an inefficient firm or a firm producing a product that people no longer want goes out of business, people are unemployed, but that's part of the normal process of economic growth and development; the unemployment is part of the natural rate and need not concern policy workers. Discuss that statement and its relevance to the economy today.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9491498

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