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What important experiment did Helmholtz perform with severed frog legs?
Wage Rate
The amount of compensation a worker receives per unit of time (e.g., per hour or year) for their labor.
Real Minimum Wage
The lowest legal hourly wage, adjusted for inflation, that employers can pay their workers.
Purchasing Power
The ability of an individual or group to buy goods and services with a given unit of currency or resources.
Real Wages
Wages adjusted for inflation, reflecting the actual purchasing power of income earned from work.
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