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Mia saw a movie with her friend and observed her friend crying during the sad parts. When Mia went to another movie with her parents the following weekend, she began to cry during the sad parts. This is an example of:
Supply of Labor
The total hours that workers wish to work at a given wage rate, reflecting how many people are available to work.
Nominal Wage
The amount of money received by a worker per unit of time (hour, day, etc.); money wage.
Price Level
A measure of the average prices of goods and services in an economy, often used to evaluate inflation or deflation over time.
Real Wage
The amount of goods and services a worker can purchase with his or her nominal wage; the purchasing power of the nominal wage.
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