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Discuss the purposes and features of the minimum wage, and identify groups of workers not guaranteed it.
Debt to GDP Ratio
A measure of a country's debt compared to its Gross Domestic Product, indicative of the country's ability to pay back its debt.
Developed Nations
Countries with advanced industrial economies, high living standards, well-established infrastructures, and stable governments.
Federal Budget Deficit
The federal budget deficit occurs when a government's expenditures exceed its revenues within a given fiscal year, leading to borrowing to cover the gap.
Declined Substantially
A phrase indicating a significant decrease or reduction in the quantity, value, or quality of something.
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