Examlex
Instructions: Identify the terms and briefly state their historical significance.
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Gross Domestic Product
The total monetary value of all finished goods and services produced within a country's borders in a specific time period, serving as a broad measure of overall domestic production.
Health Care Industry
A sector that provides medical services, manufactures medical equipment, and develops pharmaceuticals, aiming to improve individual health outcomes.
Payroll Taxes
Taxes imposed on employers and employees, calculated as a percentage of the salaries that employers pay their staff, used to fund social security and medicare in many countries.
Health Insurance
A type of insurance coverage that typically pays for medical, surgical, prescription drug, and sometimes dental expenses incurred by the insured.
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