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Expand on the text given definition

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Please expand on the text's given definition, using other relevant terms from the chapter, and also give a practical example of that key concept. Please don't simply supply the text definition. This is not what I want. I'm looking for your input showing a basic understanding of each "Key Concept". A 1 or 2 sentence answer is not acceptable, nor is a few bullet points. Show me you understand the concept.

  • finance
  • present value
  • future value
  • compounding
  • risk aversion
  • diversification
  • firm-specific risk
  • market risk
  • fundamental analysis
  • efficient markets hypothesis
  • informational efficiency
  • random walk
  • labor force
  • unemployment rate
  • labor-force participation rate
  • natural rate of unemployment
  • cyclical unemployment
  • discouraged workers
  • frictional unemployment
  • structural unemployment
  • job search
  • unemployment insurance
  • union
  • collective bargaining
  • strike
  • efficiency wages

Reference no: EM13846543

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