Examlex
Which is the largest component of aggregate expenditure?
Minimum Wage
The lowest legal wage that can be paid to workers, set by government law or regulation.
Equilibrium Market Wage
The wage rate at which the quantity of labor supplied equals the quantity of labor demanded in a given market.
Bricklayers
Skilled tradespeople who lay bricks to construct brickwork for buildings and other structures.
Marginal Product
The additional output resulting from the use of one more unit of a productive resource.
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