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Definition of Minimum Wage
An hourly wage rate set by the federal government below
Institutionally Induced Unemployment
Unemployment due to institutional phenomena such as the degree of labor force unionization, the level of discrimination, and government policies such as unemployment insurance programs, minimum wages, or regulations on business.
Fair Labor Standards Act of 1938
A federal Act creating standards of overtime
Walsh-Healey Public Contracts Act of 1936
A federal Act that forces government contractors to comply with the government’s minimum wage and hour rules.
Minimum price fluctuation
Smallest increment of price movement possible in trading a given contract. Also
For mutual funds, the amount required to open a new account (minimum Initial
Graph of the lowest possible portfolio variance that is attainable for a given
The portfolio of risky assets with lowest variance.
The amount paid to employees for services rendered; synonymous with salary expense and payroll expense.
wage that maximizes profits.
wage expressed in base-year dollars, calculated by dividing the money wage by a price index.
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.
Benefit Wage Ratio Method
The proportion of total taxable wages for laid off
An inventory item’s budgeted minimum inventory level.
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