Examlex
A corporation is a fiction that does not exist in reality.
Minimum Wage
The lowest legal salary that employers can pay workers, set by government law or policy.
Labor Supplied
The total hours that workers are willing to work at a given wage rate, representing the workforce availability in the economy.
Labor Demanded
The total amount of workers that employers in the economy want to hire at a given wage level and time period.
Labor-Force Participation
the ratio of the number of individuals who are working or actively looking for work to the total number of individuals eligible to participate in the workforce.
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