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GENERAL STRIKE: A strike by a majority of the workers in key industries throughout a country in a particular region of the country. This type of strike is different in both magnitude and intent than that of a strike against a specific firm or industry. In particular, a general strike involves virtually every union regardless of industry or occupation. In addition, the intent of a general strike is to bring the economy to a standstill as a means of forcing major structural changes in the economy or society. Such a strike has been effectively used from time to time, but because it does shut down the economy and imposes hardships on almost everyone.

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SIGNALLING

When confronted by asymmetric information, the use of small bits of information, or indicators, that suggest more comprehensive information. Signalling is used by those with more information to reduce the cost of informing those with less information. It is commonly used in markets with adverse selection. Methods of signalling include advertising, brand names, and warranties. A related method is screening.

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Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a pair of gray heavy duty boot socks or a 50-foot blue garden hose. Be on the lookout for crowded shopping malls.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
"Divide each difficulty into as many parts as is feasible and necessary to resolve it."

-- Rene Descartes

CPI-W
Consumer Price Index-Urban Wage Earners and Clerical Workers
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