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What is WAP?
Utilitarian Argument
A principle in ethics and economics that advocates for actions that maximize happiness or well-being for the largest number of people.
Minimum Wage Law
Legislation establishing the lowest hourly rate that employers can legally pay their employees.
Income Distribution
The way in which a country's total economic output is divided among its population, or the share of national income earned by each quintile or group of the population.
Bottom Fifth
A term often used in income distribution to refer to the lowest 20% of income earners in a given population.
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