People base their labor supply on the ________ because they care about ________.

Name: People base their labor supply on the ________ because they care about ________.
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Question

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People base their labor supply on the real wage because it reflects what their earnings can actually purchase, taking into account the cost of goods and services. This is more relevant to individuals than the nominal (or money) wage, which does not account for the purchasing power of earnings.

People Base Their Labor Supply on the ________ Because They