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Which one of the following lists the events in proper chronological order, from first to last?
Minimum Wage
The lowest legal hourly pay rate that employers can offer to workers.
Quantity Supplied
The total amount of a product or service that sellers are willing and able to sell at a given price, over a specified period of time.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price over a specified period.
Efficiency Wage
A wage rate set above the market equilibrium to increase productivity and efficiency among workers by attracting and retaining higher-quality employees.
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