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What is the relationship between the following two compounds?
Price Level
The average of current prices across the entire spectrum of goods and services produced in the economy, often used to measure inflation.
Real Wages
Refers to wages that have been adjusted for inflation, indicating the actual buying power of the compensation.
Labor-Productivity
A measure of the amount of goods and services produced by one hour of labor.
Capital Resources
Assets such as machinery, buildings, and technology that are used in the production of goods and services.
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