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The price of a good will rise if
Labor Surplus
A situation where the supply of labor exceeds the demand for labor, often leading to unemployment.
Unemployment Insurance
A government-provided insurance that pays out when an individual loses their job and meets certain eligibility requirements.
Unemployment
A scenario in which people who are able to work and are actively looking for a job cannot secure employment.
Minimum-Wage Laws
Laws establishing the minimum per-hour payment that employers are legally allowed to offer their employees.
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