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One of the disadvantages of a relational database is that we can enter data once into the database, and then reuse that data in various locations where it is needed.
Nominal Wages
Wages that are paid to employees not adjusted for inflation, representing the dollar amount received.
Real Wages
Wages adjusted for inflation, representing the purchasing power of the income received from work.
Human Capital
The combined abilities, expertise, and non-physical assets of people that can be leveraged to generate economic worth.
Future Earnings
Refers to the projected income or profits that an individual, company, or asset is expected to generate in the future.
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