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Labor is regulated by
Classical Assumption
In economics, refers to the traditional ideas that free markets function under equilibrium with full employment and price flexibility.
Money Balances
The total amount of money held by an individual or entity at any given time.
Discretionary Monetary Policy
Monetary policy actions that are based on the judgment of policymakers rather than set by predetermined rules, allowing flexibility in response to economic conditions.
Capitalistic Economy
An economic system where trade, industry, and the means of production are largely or entirely privately owned and operated for profit.
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