3) Please answer these three sub-parts a) True or False? Frictional unemployment is caused by the dynamism of the economy—such as sectoral shifts in demand, changing technology, and workers voluntarily quitting jobs—and the fact that it takes unemployed workers time to find new and suitable jobs.  b) An increase in the minimum wage, in wages established by collective bargaining, and in the prevalence of firms paying “efficiency wages” will all (increase, reduce, leave unchanged) structural unemployment, and they will (increase, reduce, leave unchanged) an economy’s natural rate of unemployment. c) To be considered “money”, an asset must be a(n) ________________ of exchange.

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