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Q. Define the Labor Market?
A significant macroeconomic variable is the total amount of labor which is used in a certain time period. Amount of labor and amount of capital are important explanatory variables for total production and GDP. Another reason for importance of the amount of labor is that it's related to unemployment rate - a macroeconomic variable that is clearly significant.
complexity theory elements
What does the United States do better than other countries?
using a classical labour market , illustrate the effects of a real wage existing in the market that is lower than the equilibrium real wage. what will eventually happen in this lab
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