Examlex
Even though the difference in labor-force participation rates of U.S. males and females has narrowed, the labor-force participation rate of males remains higher than that of females.
Price of Food
The cost assigned to food products, which can vary based on factors such as region, availability, and demand.
Utility Maximizing
The economic principle where individuals or entities make choices to get the highest level of satisfaction from their resources.
Market Basket
A collection of goods and services used to track inflation, consumer spending, or the cost of living in an economy.
MRSxy
The Marginal Rate of Substitution between good x and good y, indicating the rate at which a consumer is willing to give up good y for an additional unit of good x, keeping utility constant.
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