Suppose the world price of cotton falls substantially. The demand for labor among cotton-producing firms in Texas willdecrease. The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, willdecrease. The temporary unemployment resulting from such sectoral shifts in the economy is best described asfrictional unemployment.
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Home » Business » Suppose the world price of cotton falls substantially. The demand for labor among cotton-producing firms in Texas willdecrease. The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, willdecrease.