Examlex
Positive economics
Current Wage
The present amount of money that a worker receives in exchange for their labor, usually expressed per hour, day, or per work output.
Surplus of Labor
A surplus of labor occurs when the supply of labor exceeds the demand, resulting in unemployment or underemployment in the market.
Surplus of Labor
A situation where the supply of labor exceeds the demand for it, resulting in unemployment or underemployment.
Downward Pressure
Describes a situation where factors contribute to the decrease in the price of a product or asset.
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