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What was the spoils system? Describe the system that replaced it.
In-Kind Transfers
Non-monetary transfers of goods or services provided by governments to individuals as part of social assistance programs.
Elasticity of Labor Demand
A measure of how sensitive the quantity of labor demanded by employers is to a change in the wage rate.
Minimum-Wage Laws
Legislation that sets the lowest hourly wage that employers can legally pay their workers, intended to protect workers from exploitation.
Labor Supply
The total hours that workers are willing and able to work at a given wage rate, in a certain period.
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