emollient - toiletry consisting of any of various substances in the form of a thick liquid that have a soothing and moisturizing effect when applied to the skin ointment, cream cold cream, coldcream, face cream, vanishing cream - a cream used cosmetically (mostly by women) for softening and cleaning the skin
DEFINITION of 'Frictional Unemployment'. Unemployment that is always present in the economy, resulting from temporary transitions made by workers and employers or from workers and employers having inconsistent or incomplete information. Next Up.
A recession is a decline in total output, unemployment rises and inflation falls. 3. The trough is the bottom of the recession period, unemployment is at its highest, inflation is low. 4. expansion (recovery) is when output is increasing, unemployment begins to fall and later inflation begins to rise. Unemployment increases during business cycle recessions and decreases during business cycle expansions (recoveries). Inflation decreases during recessions and increases during expansions (recoveries). Review: Maximizing Satisfaction. The primary reason to study unemployment is that it contributes to scarcity.