- Industry: Education
- Number of terms: 31274
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A measure of the extent to which a country's production patterns differ from those of a comparison group of countries. It runs from zero, if the country and group produce the same goods in the same proportions, to two if they produce only different goods. Letting ''s<sub>i</sub>'' be the share of industry ''i'' in the country's output and ''s<sub>i</sub>*'' be that share in the group, the index is ''K''=Σ''<sub>i</sub>''
Industry:Economy
A requirement to label imported goods with information about how they were produced. This is often suggested as an alternative to trade restrictions as a means to pursue particular trade-related objectives involving, for example, environment or labor standards.
Industry:Economy
A country is labor abundant if its endowment of labor is large compared to other countries. Relative labor abundance can be defined by either the quantity definition or the price definition.
Industry:Economy
A market for labor. Can refer to anything from local interactions between workers and employers to country-wide (not usually world-wide) markets dominated by broadly based labor unions, industry associations, and sometimes governments.
Industry:Economy
A market restriction in the labor market, most often limits on wages and on the ability of firms to terminate workers.
Industry:Economy
A country is labor scarce if its endowment of labor is small compared to other countries. Relative labor scarcity can be defined by either the quantity definition or the price definition.
Industry:Economy
A technological change or technological difference that is biased in favor of using less labor, compared to some definition of neutrality.
Industry:Economy
A technological change or technological difference that is biased in favor of using more labor, compared to some definition of neutrality.
Industry:Economy
A measurable economic variable that varies over the business cycle, reaching peaks and troughs somewhat later than other macroeconomic variables such as GDP and unemployment. Contrasts with leading indicator.
Industry:Economy
A function constructed in solving economic models that include maximization of a function (the "objective function") subject to constraints. It equals the objective function minus, for each constraint, a variable "Lagrange multiplier" times the amount by which the constraint is violated.
Industry:Economy
