Examlex
According to Salthouse,a recent analysis of research found:
Equilibrium Wage
The compensation rate at which labor demand from businesses meets labor supply from employees.
Wage Rate
The amount of money paid to a worker per unit of time, usually expressed per hour or year.
Supply Curve
A graphical representation showing the quantity of goods that producers are willing and able to sell at different prices.
Market for Labor
The economic marketplace where employers find workers and workers find jobs.
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