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In such a situation, real wage increases no matter how inflation is calculated. Specifically, inflation could be calculated based on any good or service or combination thereof, and real wage has still increased. This of course leaves many scenarios where real wage increasing, decreasing or staying the same depends upon how inflation is calculated.
The iron law of wages is a proposed law of economics that asserts that real wages always tend, in the long run, toward the minimum wage necessary to sustain the life of the worker. The theory was first named by Ferdinand Lassalle in the mid-nineteenth century.
This describes the rate of growth of money wages (gW). Here and below, the operator g is the equivalent of "the percentage rate of growth of" the variable that follows. = The "money wage rate" (W) is shorthand for total money wage costs per production employee, including benefits and payroll taxes. The focus is on only production workers' money ...
Code of Hammurabi Law 100 (c. 1755–1750 BC) stipulated repayment of a loan by a debtor to a creditor on a schedule with a maturity date specified in written contractual terms. [3] [4] [5] Law 122 stipulated that a depositor of gold, silver, or other chattel/movable property for safekeeping must present all articles and a signed contract of bailment to a notary before depositing the articles ...
Starting 1996, all notes except $1 and $2 were redesigned to have a larger portrait of the people depicted on them. Since 2004, all notes (except $1 and $2) were progressively changed to have different colors to make them more easily distinguishable from each other, until the last such note was introduced in 2013 (the $100).
A solid serial number is one where every digit is the same, like 55555555. Only about one out of every 11 million notes is a solid, and they can be worth $500 or more.
A wage is payment made by an employer to an employee for work done in a specific period of time. Some examples of wage payments include compensatory payments such as minimum wage, prevailing wage, and yearly bonuses, and remunerative payments such as prizes and tip payouts. Wages are part of the expenses that are involved in running a business.
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