Examlex
Regression models that use a binary variable as the response variable are called binary choice models.
Legal Hourly Minimum Wage
The lowest hourly pay that employers are legally allowed to pay their workers, as mandated by government law.
Secondary Labor Market
Employment sectors characterized by low pay, low job security, and poor working conditions, often distinguished from primary sectors which offer better employment conditions.
Primary Labor Market
Refers to high-skilled, high-paying jobs that usually require a higher level of education or training, often offering benefits and job security.
High School Diploma
A certificate awarded upon successful completion of secondary education, signifying that the recipient has met the required educational standards.
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