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In 2003,the number of persons employed in the U.S.was 137.7 million,while the number unemployed was 8.8 million.The U.S.unemployment rate during the year was
Inelastic Demand
Refers to a situation where the quantity demanded of a good or service does not significantly change when its price changes.
Price Elasticity of Demand
A metric that describes the sensitivity of the demand for a product to variations in its price.
Opera Tickets
Opera tickets are passes purchased for the purpose of gaining entry to an opera performance.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price level, at a given time.
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