$8.75 an hour
i think i also no idea about this
The money wage rate is the number of dollars that an hour of labor earns.
$6.00
The minimum wage in Florida is $7.93 as of January 2014. This rate is adjusted regularly based on the rate of inflation.
Shadow wage rate is much more mysterious and sexy than Wage Rate. Some would even say more dangerous. Market wage rate is what they pay people who work in the market. One day all the market workers will have their paychecks do situps and become the sexy shadow wage rate. One can only hope. Not sure if my answers are spot on but I'm betting an economist would admit that I am in the same ballpark.
There are some companies that choose to pay above average wage rate. They start their employees cents or dollars above the base wage.
What is the yearly wage of a welder? What is the yearly wage of a welder? What is the yearly wage of a welder?
Relative wage is the wage that is comparable for a certain type of job. It will not necessarily tell you wage rate but the range that you should look for that type of job.
Multiply the hourly wage rate by 2,000
Multiply the hourly wage rate by 2,000
The minimum wage rate for California, as of 1st January 2008, is $8 per hour. This is currently higher than the US federal minimum wage rate. However, in the event that the US federal minimum wage rate rises above that established by the California state government, employees must be paid the higher rate.
When the wage rate paid to labour is below equilibrium wage, then labour is undersupplied. As firms require more labour to maximise their profit, they will slowly raise their wage rate (because revenue from labour > costs) until the equilibrium level is achieved (since no more profit is achieveable at this level).