Examlex
What must the funds from equalization be spent on?
Real Wages
The purchasing power of wages, adjusted for inflation, representing the quantity of goods and services that can be bought.
Consumer Price Index
An index measuring the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Base Year
The year with which other years are compared when an index is constructed: for example, a price index.
Minimum Wage
The lowest legal hourly pay for employees, set by government law.
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