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Ruth5151
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compensating differential
a difference in wages that arrises to offset the nonmonetary characteristics of different jobs
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human capital
the accumulation of investments in people, such as education and on-the-job training
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union
a worker association that bargains with employers over wages and working conditions
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strike
the organized withdrawal of labor from a firm by a union
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efficiency wages
above-equilibrium wages paid by firms in order to increase worker productivity
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discrimination
the offering of different opportunities to similar individuals who differ by race, ethnic group, sex, age, or other personal characteristics
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