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ADVERSE SELECTION: When a negotiation between two people with different amounts of information, that is, asymmetric information, restricts the quality of the good traded. This typically happens because the person with more information is able to negotiate a favorable exchange. This is frequently referred to as the "market for lemons."
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CONSUMER PRICE INDEX FOR URBAN WAGE EARNERS AND CLERICAL WORKERS: An index of prices of goods and services typically purchased by urban wage earners and clerical workers. This carries the official abbreviation CPI-W to distinguish it from it's more famous sister index CPI-U, which is the standard Consumer Price Index for All Urban Workers, (commonly abbreviated simply as CPI). Like the standard CPI, the CPI-W is compiled and published monthly by the Bureau of Labor Statistics (BLS), using price data obtained from an elaborate survey of 25,000 retail outlets and quantity data generated by the Consumer Expenditures Survey. The CPI-W is a continuation of the original CPI developed early in the 1900s to provide cost-of-living adjustment information to wage-earning workers. See also | Consumer Price Index | price level | index | consumer | Bureau of Labor Statistics | inflation | nominal | real | wage | income | Social Security | GDP price deflator | Producer Price Index | Consumer Price Index for All Urban Consumers | civilian labor force |
Recommended Citation:CONSUMER PRICE INDEX FOR URBAN WAGE EARNERS AND CLERICAL WORKERS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: June 3, 2023].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: Consumer Price Index for Urban Wage Earners and Clerical Workers
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ECONOMIC THINKING A way of looking at and analyzing the way the world works by comparing the cost of an action with the benefit generated. The study of economics is the process of economic thinking about issues related to the scarcity problem.
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Today, you are likely to spend a great deal of time at a garage sale hoping to buy either a coffee cup commemorating yesterday or a replacement remote control for your television. Be on the lookout for broken fingernail clippers.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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