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Figure 5.3. The figure shows the wage rate and the quantity of labor supplied in an unskilled labor market.
-Scarcity impels an individual to make choices.
Chi-square Value
A statistical measure used in the chi-square test to compare observed data with data expected to be obtained under a specific hypothesis.
One-tailed Test
A statistical test in which the region of rejection is on only one side of the sampling distribution.
Level of Significance
A predetermined threshold in hypothesis testing, below which the null hypothesis is rejected, indicating statistical significance.
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