Look up: wage curve


  1. wage curve
    A graph of the relation between the local rate of unemployment, on the horizontal axis, and the local wage rate, on the vertical axis. Blanchflower and Oswald show that this relation is downward sloping. That is, locally high wages and locally low unemployment are correlated. Source: Blanchflower an...
    Found op http://www.econterms.com/glossary.cgi?query=wage+curve

  2. Wage curve
    ==An explanation for the Wage Curve== One way to understand the wage curve is as follows. The labour supply of each individual is positively correlated to wages, therefore the higher is the hourly wage offered, the more hours an individual is willing to work. However, there is a limit to which ever...
    Found op http://en.wikipedia.org/wiki/Wage_curve

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