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Explain what real GDP measures.
Scanlon Plan
A type of gain-sharing program that incentivizes employees to improve productivity through teamwork and suggestions, sharing the resultant cost savings among employees and management.
White-Collar Jobs
Positions in a professional setting typically requiring a high level of education and involving sedentary work, often in an office.
Bonus Pay
Additional financial compensation awarded to employees for achieving specific targets or performing beyond normal job requirements.
Conventional Merit Pay
involves financial rewards given to employees based on their performance evaluation, intended to motivate and recognize individual accomplishments.
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