Economics Terms Lexicon - Authoritative Dictionary and Knowledge Tests
About Economics Terms Lexicon
Welcome to EconomicsTermsLexicon.com! Our site offers a comprehensive and authoritative dictionary of economic terms, providing detailed definitions and explanations. Each dictionary entry references books, official publications, and government websites to ensure accuracy and reliability.
Features
đ Comprehensive Content: Our lexicon covers a wide range of economic terms and concepts, thoroughly explained to help users understand even the most complex topics.
đ Authoritative References: Each entry includes references to authoritative books, official publications, and government sites, ensuring the information is reliable and accurate.
đ§ Knowledge Test Quizzes: Enhance your understanding with quizzes designed for each dictionary entry. Test your knowledge and track your progress seamlessly.
đ Global Relevance: While our focus is on providing detailed economic definitions, the referenced materials ensure global relevance and context.
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Stay updated with the latest additions to our lexicon and expand your economic knowledge. Whether youâre preparing for exams, writing research papers, or pursuing professional development, EconomicsTermsLexicon.com is your go-to resource for all things economics.
The rate per hour paid for work of a given type
Examination of the difficulty in reducing wages, either in real or nominal terms.
The tendency of wage rates to be âstickyâ and not adjust to clear the market in the short run.
A period of regular pay negotiations, usually when employees are unionized.
A type of inflation triggered by increases in wages.
Understanding the wageâprice spiral, a phenomenon where wage and price increases perpetuate each other, contributing to ongoing inflation.
Understanding Wage(s): Payment for work performed by employees, typically calculated based on hours worked, and contrasts with salaries received by independent contractors.
An observation by Adolph Wagner on the increasing share of the public sector in GDP over time
The Wald Test is utilized for testing restrictions on unknown parameters based on the maximum likelihood estimation.
Insight into the symbolic and functional epicenter of high finance in the United States
An examination of Walras's Law, which asserts that the value of excess demand in an economy is always zero.
A financial instrument granting the holder the right to purchase an underlying asset at a predetermined price.