determination of wages
1Efficiency wages — In labor economics, the efficiency wage hypothesis argues that wages, at least in some markets, are determined by more than simply supply and demand. Specifically, it points to the incentive for managers to pay their employees more than the… …
2wage and salary — ▪ economics Introduction income derived from human labour. Technically, wages and salaries cover all compensation made to employees for either physical or mental work, but they do not represent the income of the self employed. Labour costs… …
3labour law — Body of law that applies to matters such as employment, wages, conditions of work, labour unions, and labour management relations. Laws intended to protect workers, including children, from abusive employment practices were not enacted in… …
4Dummy variable (statistics) — In statistics and econometrics, particularly in regression analysis, a dummy variable (also known as an indicator variable) is one that takes the values 0 or 1 to indicate the absence or presence of some categorical effect that may be expected to …
5Keynesian economics — Economics …
6Economic inequality — refers to disparities in the distribution of economic assets and income. The term typically refers to inequality among individuals and groups within a society, but can also refer to inequality among nations. Economic Inequality generally refers… …
7Principal-agent problem — In political science and economics, the principal agent problem or agency dilemma treats the difficulties that arise under conditions of incomplete and asymmetric information when a principal hires an agent. Various mechanisms may be used to try… …
8Dual labour market — The dual labour market theory divides the economy into two parts, called the primary and secondary sectors. The distinction may also be drawn between formal/informal sectors or sectors with high/low value added. The secondary sector is… …
9Germany — /jerr meuh nee/, n. a republic in central Europe: after World War II divided into four zones, British, French, U.S., and Soviet, and in 1949 into East Germany and West Germany; East and West Germany were reunited in 1990. 84,068,216; 137,852 sq.… …
10United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… …
