| 单词 | replacement ratio |
| 释义 | replacement ratio The income of an unemployed worker as a proportion of income when in work. If this ratio is too high it gives a disincentive to accept job offers: allowing for the cost of travel to work and other working expenses, and the value of leisure, a replacement ratio below 1 is needed to maintain incentives. Too high a replacement ratio may perpetuate unemployment, while too low a ratio inflicts severe suffering on the unemployed and their families. In practice replacement ratios vary widely, as income support is based on family size while wages are not. |
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