Examlex
What could cause the level of Real GDP to rise but the price level to fall?
Incentives
Rewards or penalties that influence the motivation and behaviors of individuals and organizations towards certain actions.
Minimum-Wage Laws
A law that establishes the minimum hourly wage employers are legally allowed to pay their employees.
Labor Demand
The total amount of workers that employers are willing and able to hire at a given wage rate in an economy or specific market.
Working Poor
Describes individuals who are employed but whose earnings are insufficient to meet the basic costs of living.
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