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In a two-country model, consumers in the exporting country will be _____, and producers in the exporting country will be _____ with the opening of free trade.
Ages 25-54
A demographic group often considered the prime working age range, reflecting a significant portion of the labor force.
Ages 16-19
A demographic group typically associated with late adolescence and early adulthood.
Efficiency Wages
Wages set above the market equilibrium to increase productivity, reduce turnover, and enhance loyalty among employees.
Shirking
The behavior of avoiding work or responsibilities, often in a workplace setting, which can lead to inefficiency and diminished productivity.
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