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COMPENSATING WAGES: Different wages paid in different workers or in different markets that adjust for differences in the jobs or in the productivity of the workers. Wage differentials occur for many reasons. Quite often they are the result of the personal preferences of workers. In some cases workers are willing to "buy" leisure-time or other types of household production by taking lower labor market wages. Differences in job risks, education, and location are also reasons for the persistence of wage differentials.
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Lesson 9: Macro Basics | Unit 4: Policies
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Page: 12 of 16
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People can take different views of government and economic polices that depend on political philosophies.- Liberal Democrat: The view that government is the only way to keep the economy running smoothly, using paternalistic, hands-on policies. If a problem arises, then government is the answer.
- Conservative Republican: The view that government is the problem, not the solution. The best government is the least government because it is a tyrannical oppressor of individual rights and freedoms.
- One view or the other is usually the basis of an economic policy.
The government can be the solution and it can be the problem.
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CHAIRMAN OF THE BOARD OF GOVERNORS, FEDERAL RESERVE SYSTEM The head of the Board of Governors of the Federal Reserve System, and thus the person who is effectively in charge of monetary policy for the United States. The Chairman, one of the 7 members of the Board of Governors, serves as Chairman for a 4-year term, and also is Chairman of the powerful Federal Open Market Committee--the Federal Reserve Committee that sets the course of monetary policy. Being positioned at the top of the central banking authority of the United States, the Chairman is one of the most powerful, if not THE most powerful, individuals in the economy.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet wanting to buy either a birthday gift for your grandfather or a pleather CD case. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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This isn't me! What am I?
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"Learn to enjoy every minute of your life. Be happy now. Don't wait for something outside of yourself to make you happy in the future. Think how really precious is the time you have to spend, whether it's at work or with your family. Every minuteshould be enjoyed and savored." -- Earl Nightingale
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OAPEC
Organization of Arab Petroleum Exporting Countries
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