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The _______________ is responsible for ensuring that the departmental policies and procedures are current.
Wage Discrimination
The practice of paying different wages to employees who perform similar jobs, based on non-job-related factors like gender, race, or age.
Efficiency Wage
A wage set above the market equilibrium to increase productivity by encouraging higher effort or reducing turnover among employees.
Positive Amount of Unemployment
A situation where there is a nonzero level of unemployment in the economy, often considered normal due to frictions and transitions in the job market.
Market-clearing Wage
The wage rate at which the quantity of labor supplied equals the quantity of labor demanded.
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