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Employed Workers
This term refers to individuals who are currently working for pay or profit, whether on a full-time or part-time basis.
Coefficient of Elasticity
A measure of how much the quantity demanded of a good responds to a change in price, income levels, or other variables.
Labor Demand
The total number of hours that employers are willing and able to hire at a given wage rate, reflecting the need for workers in the production process.
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