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Wage Increases
Adjustments upwards in the compensation that workers receive for their labor, often reflecting economic conditions, productivity, and negotiation outcomes.
Union Members
Individuals who belong to a labor union, an organization that represents workers' interests in negotiations with employers.
Exclusive Union
A labor union arrangement where only members of the union can be employed by the firm or within a certain industry.
Market Imperfections
Any departure from the ideal conditions of perfect competition that prevents the efficient allocation of resources.
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