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Related to the Economics in Practice on p. 128: Compared to students who graduate college and obtain employment during an economic expansion, students who graduate during a recession often find that starting wages are ________ and wage growth is ________.
Insurance Company
A financial institution that provides a range of insurance policies to protect individuals and businesses against risk.
Initial Offer
The first proposal or bid made during negotiations.
Government
The organized system of institutions, policies, and laws through which a community or country is ruled and administered.
Express Term
A provision in a contract that is clearly articulated and agreed upon by all parties, either orally or in writing.
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