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Explain How a Surplus in the Labour Market Is Eliminated

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Essay

Explain how a surplus in the labour market is eliminated.


Definitions:

Spoils System

A practice where a political party, after winning an election, gives government jobs to its supporters as a reward and incentive.

Political Economy

An interdisciplinary field that examines the relationship between politics and economics, including how political institutions, the political environment, and the economic system influence each other.

Reinventing Government

A movement or approach aimed at improving governmental efficiency, innovation, and responsiveness to citizens' needs through strategies such as privatization, decentralization, and technology use.

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