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Which statement about moods is accurate?
Productivity Growth
The increase in the efficiency of production, measured by the amount of goods and services produced per unit of input.
Unionized Workers
Employees who are members of a union, which is an organized association formed to protect and further their rights and interests.
Substitution Effect
The economic understanding that as prices rise or income decreases, consumers will replace more expensive items with less costly alternatives.
Income Effect
The change in an individual's or economy's purchasing power due to a change in income, affecting the quantity of goods and services bought.
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