Examlex
Instructions: Identify the terms and briefly state their historical significance.
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Market Wages
The prevailing pay rates for jobs in the competitive job market, influenced by factors such as industry, complexity, and location.
Compensating Differential
The additional amount of income that a worker requires to accept a job that is less desirable in some way compared to a job with no undesirable attributes.
Long-term Health Problems
Chronic medical conditions that persist for an extended period, often requiring ongoing management and treatment.
National Average
A statistical measure that represents the central or typical value in a set of data for a country.
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