Examlex
When taking class notes, it is important to spell all words correctly.
Leisure
Free time available to a person away from duties, work, or other compulsory activities.
Nonlabor Income
Income received that does not originate from employment or work efforts, such as dividends, interest, or rental income.
Wage Rate
The amount of money that is paid to a worker per unit of time or per unit of output, often discussed in the context of labor markets.
Budget Equation
A mathematical representation of the constraint that the total value of goods and services a consumer can purchase is limited by their income.
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