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If the labour market is perfectly competitive, labour demand function is given by ND = a + bW and labour supply function is given by NS = c + dW; W is the wage rate. At market equilibrium, we can determine the market wage rate as:
Quick Energy Source
Typically refers to foods or substances that can provide rapid energy release, often high in sugar or caffeine.
"Double V" Campaign
An initiative during World War II advocating for victory against fascism abroad and racial discrimination at home, particularly among African Americans.
Racial Segregation
The systematic separation of people into racial or other ethnic groups in daily life, often enforced by law in the past, particularly in the United States prior to the civil rights movement.
National Debt
The total amount of money that a country's government has borrowed, by various means, and is obligated to repay.
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