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JOB LOSERS: Unemployed workers who have been involuntarily laid off or fired from their jobs. This is one of the official categories or unemployed workers tracted by the Bureau of Labor Statistics when compiling employment statistics and the unemployment rate. It is also a key to the theoretical notion of cyclical unemployment.
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ADVERSE SELECTION An inefficient, bad, or adverse outcome of a market exchange that results because buyers and/or sellers make decisions based on asymmetric information. This commonly results in a market that exchanges a lesser quality good, what is termed the market for lemons. Two related problems resulting from asymmetric information are moral hazard and the principal-agent problem. Two methods of lessoning the problem of adverse selection are signalling and screening.
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"Nothing so conclusively proves a man's ability to lead others as what he does from day to day to lead himself." -- Thomas J. Watson, IBM founder
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AIO
Action Information Organization
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