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performance-related pay (J3)<br />An INCENTIVE PAY SCHEME which attempts to link all or part of an employee's remuneration to the achievement of output and output-related goals instead of to the amount of time supplied by an employee to a firm. It is hoped by firms with performance-related pay (PRP) schemes that turnover, profits, loyalty to the firm and quality of work done will increase and that industrial unrest and ABSENTEEISM will diminish.<br /><em>See also:</em> profit-related pay
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debt policy (H7)<br />The course of action taken to manage a country's NAT!ONALDEBT. The official approach often adopted is to maintain market conditions so as to maximize the present and future demand for government debt, but such a policy stance may be in conflict with credit/interest rate policy.
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