Examlex
In an open economy,the source for the demand for loanable funds is
Wage Differentials
The variation in wage rates due to factors such as occupation, industry, geographic location, and skills level.
Licensure Exam
A standardized test that individuals must pass to prove they have the necessary skills and knowledge to practice a profession legally.
Exclusive Union
A labor union agreement that requires a company to hire only workers who are already union members.
Labor Union
An organization representing workers' interests, focusing on negotiating wages, work hours, and working conditions with employers.
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