Examlex
Contingency plans are alternative plans that can be put into effect if certain key events do not occur as expected.
Labor Demand
The total quantity of workers that employers want to hire at a given wage rate, reflecting how employment levels vary with changes in wage or the economic output.
Nominal Wage
The wage measured in current money or monetary units, without adjusting for inflation.
Real Wage
Wages adjusted for inflation, reflecting the actual purchasing power of income earned from labor.
Inflation
The tempo at which the aggregate cost of goods and services ascends, depleting the power of purchase.
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