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The major product of the following reaction is,
Human Capital
The economic value of an individual's experience and skills.
Wage Disparity
The difference in wages between individuals or groups, often analyzed in the context of gender, ethnicity, occupation, or education level disparities.
Efficiency Wages
Wages set above the market equilibrium to increase worker productivity and efficiency.
Unemployment
Describes the situation where individuals who are capable of working and willing to work are unable to find employment.
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