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What are the effects of an increase in the minimum wage? Who would be most affected?
True Risks
The actual risks associated with an investment, activity, or decision, taking into account all factors and potential outcomes.
Generous Tip
A sum of money given to service workers that is significantly higher than the standard tipping percentage, often as a reward for exceptional service.
Signaling Mechanism
A method through which parties communicate information indirectly or directly to influence perceptions and decisions of others, often used in markets and negotiations.
Insurance Policy
A contract between an insurer and policyholder specifying coverage terms, including the risks insured against, the duration of coverage, and the amount of premiums.
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