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non-competing group (J4)<br />An occupational group of the labour market separated from other groups by BARRIERS TO ENTRY. John Stuart MILL, who first noted this market imperfection, likened the labour market to a hereditary caste system. Restricted access to education, union rules and discrimination separate the labour force into these groups, giving rise to occupational WAGE DIFFERENTIALS.
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double factorial terms of trade (F1)<br />NET BARTER TERMS OF TRADE multiplied by the ratio of the productivity change index for one country's export industries and the productivity change index for a foreign country's export industries. This measure of the TERMS OF TRADE indicates the exchange rate between domestic and foreign factor services.<br /><em>See also:</em> single factorial terms of trade
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