Examlex
Which of the following is NOT a secular state?
Unemployment
A situation where individuals who are willing and able to work cannot find a job.
Persistent Unemployment
A situation where unemployment remains high or continues over a long period, often due to structural factors in the economy.
Wage Discrimination
The practice of paying different wages to employees who perform similar jobs, based on non-job-related factors like gender, race, or age.
Efficiency Wage
A wage set above the market equilibrium to increase productivity by encouraging higher effort or reducing turnover among employees.
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