Examlex
Communities characterized by low vertical relations and low horizontal articulations are called:
Money Wage Rate
The money wage rate refers to the nominal amount of money that employees receive in exchange for their labor, typically reported as an hourly or yearly salary.
Substitution Effect
The change in the consumption pattern of goods due to a change in relative prices, holding the level of utility constant.
Output Effect
The change in total output resulting from a change in input quantities or the introduction of new processes or technologies in the production.
Price of Capital
The cost of using capital goods, such as equipment or buildings, which is often reflected in interest rates or rental charges.
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