Examlex
Define the official poverty line and differentiate between absolute poverty and relative poverty.
Leisure
Time available for ease, relaxation, and activities one chooses to engage in beyond compulsory activities like work or chores.
Consumption
The use of goods and services by households or individuals, constituting one of the primary components of economic activity.
Nonlabor Income
Income received from sources other than employment, such as investments, pensions, or gifts.
Wage Rate
The amount of money that an employee is paid per unit of time, such as an hour, often analyzed in labor economics.
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