Nominal Yield

Nominal Yield

Nominal Yield. See Yield.

Non-competing Groups, collections of employees that do not compete closely with one another; they therefore form separate markets. An increase in the remuneration of, say, engineers would be expected to lead to an increase in the number of other workers being trained and offering themselves as engineers. But semi-skilled workers may lack the ability or education to compete with engineers. In time theft sons may not lack these disadvantages. The significance of non-competing groups is that competition between groups of employees may take a long time to develop and an increase in remuneration can remain for many years before evoking an increase in supply.

Notional Income, imputed income, not received in money (or kind). An example is the 'income' received by the owner-occupier of a house from himself as occupier. Although strictly a part of a person's real wealth, notional income is rarely assessed for income tax. In the British income tax code the value of an owner-occupier's beneficial interest in his property was an exception to this rule and was taxed (under Schedule A) until 2003.

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