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The ratchet effect refers to a situation where workers subject to performance pay choose to restrict their output, because they rationally anticipate that firms will respond to higher output levels by raising output requirements or cutting pay.
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Extreme anything is ridiculous, and sometimes even dangerous. The word "extreme" is now often used as a hyper-descriptor for anything seen as extra good, extra delicious, extra anything. Extreme Bacon Burgers. Extreme Weight Loss. Extreme Makeovers. Extremes can not possibly be good for you. And neither is Extreme Couponing. The show or the practice.
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Art was used to represent status symbols. Having artwork in your house or having a magnificent architecture symbolizes the upper status of the elites.
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