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Speech is the most complex mode for expression of language.
Efficiency Wage
A theory suggesting that higher wages may increase worker productivity and efficiency by attracting better applicants, reducing turnover, and increasing worker morale.
Contract Curve
Curve showing all efficient allocations of goods between two consumers, or of two inputs between two production functions.
Utility Possibilities Frontier
Curve showing all efficient allocations of resources measured in terms of the utility levels of two individuals.
Production Possibilities Frontier
Curve showing the combinations of two goods that can be produced with fixed quantities of inputs.
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