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C. Wright Mills used the term "sociological imagination" to refer to important interconnections between personal troubles and public issues. What would he have said about deprivation amplification?
Wage Rate
The wage rate is the standardized amount of money paid for a specific unit of time worked, such as hourly or weekly rates, often determined by market forces or agreements.
Marginal Product
The additional output produced as a result of increasing one more unit of a single input, holding all other inputs constant.
Capital
Assets or resources that are used in the production of goods and services, including physical assets like machinery and buildings, as well as financial resources.
Marginal Revenue Product
The extra revenue generated by employing an additional unit of a factor, such as labor or capital.
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