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AFL-CIO: The umbrella organization for many labor unions in the United States, with AFL standing for American Federation of Labor, and CIO the abbreviation of Congress of Industrial Organizations. The AFL-CIO began as just the AFL in 1886 as a collection of craft unions representing skilled workers. It expanded to include semiskilled and unskilled workers represented by industrial unions. Differing interests among the two groups lead to a division of the original AFL in 1938 into two separate groups -- the AFL containing craft unions and CIO containing industrial unions. This rift was closed in 1955, when the AFL and CIO merged to form the AFL-CIO.
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BALANCE ON MERCHANDISE TRADE A subset of the balance of payments current account that records the difference between the payments received for exports of goods to other nations and the payments made for the imports of goods from other nations. The goods included are physical or tangible goods, but not intangible services. The balance on merchandise trade is thus appropriately divided into merchandise exported and merchandise imported. Two other subsets of the current account include the balance on services and unilateral transfers. The commonly termed balance of trade is the sum of the balance on merchandise trade and the balance on services.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall trying to buy either a weathervane with a horse on top or a case of blank recordable DVDs. Be on the lookout for crowded shopping malls.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"Defeat is simply a signal to press onward." -- Helen Keller, lecturer, author
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BNA
Bureau of National Affairs
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