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Wage Rate
The amount of money paid to an employee for a unit of time worked, typically expressed per hour or year.
Leisure
Represents time that an individual spends away from work and other compulsory activities, often used for relaxation, recreation, or personal interests.
Nonlabor Income
Earnings received from sources other than employment, such as investments, pensions, or inheritances.
Wage Rate
The amount of compensation an employee receives per unit of time or output, typically expressed per hour or piece.
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