Examlex
What is an advanced directive?
Substitution Effect
The change in quantity demanded of a good due to a change in its price, leading consumers to switch to or from substitute products.
Higher Wage
A wage rate that is above the average or minimum level commonly paid for similar work.
Wage Discrimination
Unequal pay for workers who perform similar jobs or duties, often based on gender, race, age, or sexual orientation.
Marginal Productivity
The increase in output produced by adding one more unit of a specific input, keeping all other inputs constant.
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