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NOMINAL WAGE: The market wage paid to labor stated in current prices. This is the actual wage received by labor for performing productive work. The contrast is with real wage, which is nominal wage adjusted for inflation. Nominal wage is comparable to other nominals, including nominal gross domestic product.
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COMPETITION In general, the actions of two or more rivals in pursuit of the same objective. In an economic context, the specific objective pursued is usually either selling goods to buyers or buying goods from sellers.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel hoping to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?
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John Maynard Keynes was born the same year Karl Marx died.
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"Education is the ability to listen to almost anything without losing your temper or your self-confidence. " -- Robert Frost
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NSF
National Science Foundation
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