Definitions from the Web
Term: Wage-Price
Part of Speech: Noun
Sense: The relationship between wages and prices, especially with regard to their impact on inflation and the economy.
Usage:
- The wage-price spiral refers to the cycle in which increased wages lead to higher prices, leading to demands for further wage increases.
- Government policies aim to control the wage-price inflation to maintain economic stability.
Part of Speech: Verb
Sense: To negotiate or determine the terms of wages and prices.
Usage:
- The union and management representatives are meeting to wage-price the terms of the new labor contract.
- The government is wage-pricing the cost of public services to strike a balance between affordability and quality.
Part of Speech: Adjective
Sense: Describing something related to or influenced by wages and prices.
Usage:
- The wage-price index provides insight into the overall economic health of a nation.
- Consumers are experiencing the effects of the wage-price squeeze as their purchasing power diminishes.
Sample Sentences:
Noun:
- The wage-price ratio is a crucial factor in determining the cost of production.
- Inflation remains a concern due to the imbalance in the wage-price relationship.
Verb:
- Last week, the management and workers' union successfully wage-priced a fair compensation package.
- It is essential for businesses to effectively wage-price their products to remain competitive in the market.
Adjective:
- The wage-price dynamics of the industry dictate market trends.
- Understanding the wage-price correlation is vital for policymakers when formulating economic strategies.
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