Examlex
A counterculture arises when a subculture adopts values and beliefs that are predominantly in opposition to those of larger society.
Efficiency Wage Model
A theory suggesting that higher wages lead to increased productivity by attracting higher quality workers and motivating all workers to avoid being fired.
Level of Employment
Refers to the number of people employed in the economy at any given time, influencing overall economic output.
Electronic Devices
Gadgets that operate on electrical energy, including computers, smartphones, and household appliances.
No Shirking Constraint
A concept in labor economics that suggests higher wages motivate employees to work harder, reducing shirking on the job.
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