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WAGNER ACT: An alternative title of the National Labor Relations Act passed in 1935, this modified and replaced the National Industrial Recovery Act that was declared unconstitutional earlier in the year. The Wagner Act was a major labor union promoting act under New Deal program of the Roosevelt administration The Wagner Act, also going by the acronym NLRA, outlawed unfair labor practices by employers, such as the refusal by a firm to negotiate with a union representing a majority of its employees. It also established the National Labor Relations Board, which oversees labor activities.
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MARKET ADJUSTMENT The economic analysis of changes in market equilibrium caused by changes in any of the five demand determinants and/or the five supply determinants. Market adjustment comes in one of eight varieties, given that the two curves comprising the market (demand curve and supply curve) can either increase or decrease, individually or simultaneously. Four adjustments involve a shift of EITHER the demand curve OR the supply curve. The other four adjustments involve shifts of BOTH the demand curve AND the supply curve.
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GRAY SKITTERY
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Today, you are likely to spend a great deal of time at an auction wanting to buy either a bottle of blackcherry flavored spring water or a travel case for you toothbrush. Be on the lookout for the last item on a shelf.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"I don't know the key to success, but the key to failure is trying to please everybody. " -- Bill Cosby
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AVC
Average Variable Cost
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