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When wages increase,if the substitution effect dominates,the quantity of labor supplied will increase.
Effective Rate
The actual rate of interest earned or paid on an investment or loan, taking into account compounding.
Semi-annual Payments
Payments that are made twice a year, typically in the context of loan repayments or income distributions.
Semi-annually Compounded
Relating to the process in which the interest on a loan or investment is calculated and added to the principal amount twice a year.
Effective Annual Rate
A measure of the true interest rate accounting for the effects of compounding over a year.
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