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Which of the following is an assumption made about a competitive labor market?
Government Spending
The total amount of public sector expenditure on goods and services, including investments and transfers, which influences economic activity.
Interest Rates
The cost of borrowing money or the reward for saving, expressed as a percentage of the money borrowed or saved. It influences consumer spending, inflation, and overall economic activity.
Government Purchases
Expenditures by the government on goods and services that are included in the calculation of the country's GDP.
Aggregate Demand
The total demand for all goods and services within an economy at various price levels, in a given period.
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