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Compensating Differences
Differences in the wages received by workers in different jobs to compensate for the nonmonetary differences between the jobs.
Wage Rates
Wage rates are the standard amount of compensation given to employees for their labor, typically expressed per hour or day.
Job Characteristics
Attributes or aspects of a job that influence workers' motivation and satisfaction.
Wage Differentials
The variations in wage rates due to factors such as occupation, experience, education, industry, location, and economic conditions.
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