Examlex
Which heading is the smallest
Equilibrium Wage
The wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers.
Prevailing Wage
The average wage paid to employees in a specific area or industry, often determined for purposes of setting minimum wage levels on government contracts.
Black Market Activities
Transactions that take place outside of officially sanctioned channels, often illegal or unregulated by the government.
Market Efficiency
The degree to which market prices reflect all available, relevant information, leading to optimal allocation of resources.
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