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What is an income effect and what can cause one?
Industrial Unionism
A labor union organizing method where all workers in the same industry, regardless of their specific jobs or skills, are organized into a single union.
Working Class
A social group consisting of people employed in lower tier jobs, often involving manual labor and receiving wages.
Employing Class
A term that represents the group of individuals or entities that hire or employ workers, typically used in discussions surrounding labor and economic dynamics.
Wage System
A method or structure for compensating employees based on hours worked, job role, or performance, among other factors.
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