Examlex
For any relation R,if,for every valid instance of A,that value of A uniquely determines the value of B:
Income Effect
How an alteration in the income of an individual or an economy influences the demand for a specific good or service.
Legal Hourly Minimum Wage
The lowest hourly pay that employers are legally allowed to pay their workers, as mandated by government law.
Secondary Labor Market
Employment sectors characterized by low pay, low job security, and poor working conditions, often distinguished from primary sectors which offer better employment conditions.
Primary Labor Market
Refers to high-skilled, high-paying jobs that usually require a higher level of education or training, often offering benefits and job security.
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