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Efficiency Wages
Efficiency wages are wages set above the market equilibrium by employers, aiming to boost productivity by increasing worker satisfaction and reducing turnover.
Labor Unions
Organizations formed by workers to protect their rights, improve working conditions, and negotiate wages and benefits with employers.
Minimum Wage
The lowest legal salary that employers can pay to workers, established by government legislation.
Right-to-Work Laws
Legislation that prohibits union security agreements, ensuring that employment is not affected by membership or non-membership in a labor union.
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