Examlex
Which of the following best describes object states?
Supply of Labor
The total hours that workers in the economy are willing and able to work at a given wage rate.
Demand for Labor
The total amount of workers employers are willing and able to hire at a given wage rate in a certain period.
Unemployment
A situation where individuals who are willing and able to work cannot find a job.
Persistent Unemployment
A situation where unemployment remains high or continues over a long period, often due to structural factors in the economy.
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