Examlex
Accounting practices can vary significantly from country to country.
Efficiency Wage
A higher wage paid by employers to increase productivity by attracting better applicants, reducing turnover, and motivating employees.
Marginal Productivity
The additional output that is produced by adding one more unit of a factor of production, holding other factors constant.
Income Distribution
The way in which total income is divided among the population or different groups in an economy.
Labor Market
The supply and demand for labor, where employers seek to hire workers and workers look for employment.
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