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