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Definition of Efficiency Wage
wage that maximizes profits.
Benefit Wage Ratio Method
The proportion of total taxable wages for laid off
Capital market efficiency
Reflects the relative amount of wealth wasted in making transactions. An efficient
Reflects the amount of wasted energy.
a measure of the degree to which tasks were performed
The ability to produce the things most wanted at the least cost.
Related: pricing efficiency.
The speed and accuracy with which prices reflect new information.
labor efficiency variance
the number of hours actually worked minus the standard hours allowed for the production
Labor efficiency variance
The difference between the amount of time that was budgeted
manufacturing cycle efficiency (MCE)
a ratio resulting from dividing the actual production time by total lead time;
Marketplace price efficiency
The degree to which the prices of assets reflect the available marketplace
An hourly wage rate set by the federal government below
overhead efficiency variance
the difference between total budgeted overhead at actual hours and total budgeted
Also called external efficiency, a market characteristic where prices at all times fully
wage expressed in base-year dollars, calculated by dividing the money wage by a price index.
Semi-strong form efficiency
A form of pricing efficiency where the price of the security fully reflects all
Market prices reflect all publicly available information.
Pricing efficiency, where the price of a, security reflects all information, whether or
Market prices rapidly reflect all information that could in principle be used to determine true value.
variable overhead efficiency variance
the difference between budgeted variable overhead based on actual input activity and variable overhead applied to production
The amount paid to employees for services rendered; synonymous with salary expense and payroll expense.
Ease with which wages adjust in response to excess supply or demand.
An incomes policy in which wages and prices are constrained by law not to rise by more than a specified percentage.
Resistance of wages to change.
Weak form efficiency
A form of pricing efficiency where the price of the security reflects the past price and
Market prices rapidly reflect all information contained in the history of past prices.
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