Some public toilets may have to close, but Mr Biscoe said he he hoped the number would be kept to a "relative minimum".
Weaker trade unions and relative falls in the minimum wage will have increased wage inequality, while other trends, particularly the huge increase in the supply of skilled workers, will have reduced it.
Then came the test: by looking for the minimum amount of relative entropy, it tried to guess which of the nine was the author of a 90th text.
So strong is this indirect effect, on his calculations, that the gradual fall in the relative value of America's minimum wage over the past 20 years is capable of explaining 1.5 percentage points of the fall in the country's equilibrium rate of unemployment over the same period.
We also know that in terms of relative dollars, the value of the minimum wage today buys less than what it did in 1956.
FORBES: The Minimum Wage Fight-Ground Zero In The Clash Of Conservative vs. Progressive America
Rather than craft a test with a dictated and absolute minimum score, creating a relative measure that allows institutions to compete against each other on a level playing field for funds would have been much smarter and aligned to market realities.
At a minimum, Turkey and Egypt will be at a relative disadvantage, as Israel pursues a natural gas production zone not tied to the distribution network of the former and ultimately will reduce imports from the latter.
All of these numbers are relative to the tax rules in place in 2012 with a patched Alternative Minimum Tax and the payroll tax cuts still in place but with the Obamacare tax increases not yet in effect.
Since the new Europe-wide rule to strengthen banks is that they must - by the middle of 2012 - have a minimum of 9% capital on a Basel 2.5 basis relative to their risk-weighted assets, after allowing for the fall in the price of their holdings of the debts of over-indebted eurozone countries, by definition it is the banks in those over-indebted eurozone countries that emerge as weakest.
Wal-Mart may improve its sales by offering free shipping, but if there is no minimum purchase amount, small value purchases could lead to the retailer bearing higher expenses relative to sales.
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