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CIO: The abbreviation for the Congress of Industrial Organizations, which was originally a collection of industrial unions established due to a rift among AFL members in 1938, this is now one half of the umbrella organization for labor unions in the United States (the CIO part of AFL-CIO). Industrial unions included in the CIO, were originally part of the AFL. However, because the AFL primarily represented skilled workers in craft unions, a rift among AFL members developed in 1938, resulting in the creation of the CIO. This rift was closed in 1955, when both joined together to form the AFL-CIO, which is the primary advocate for workers and labor unions in the United States.
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AVERAGE VARIABLE COST CURVE A curve that graphically represents the relation between average variable cost incurred by a firm in the short-run product of a good or service and the quantity produced. This curve is constructed to capture the relation between average variable cost and the level of output, holding other variables, like technology and resource prices, constant. The average variable cost curve is one of three average curves. The other two are average total cost curve and average fixed cost curve. A related curve is the marginal cost curve.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a flower arrangement in a coffee cup for your father or a how-to book on meeting people. Be on the lookout for fairy dust that tastes like salt.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"Success without honor is an unseasoned dish; it will satisfy your hunger, but it won't taste good. " -- Joe Paterno, Football coach
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IIP
Index of Industrial Production
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