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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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PRODUCTION POSSIBILITIES SCHEDULE

A table of numbers that illustrates the production possibilities of an economy--the alternative combinations of two goods that an economy can produce with given resources and technology. A production possibilities schedule illustrates that the economy must give up the production of one good to produce another good--the basic economic notion of opportunity cost. A production possibilities schedule is also used to derive the highly useful production possibilities curve (or frontier).

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APLS

PINK FADFLY
[What's This?]

Today, you are likely to spend a great deal of time at a crowded estate auction seeking to buy either a cell phone case or a pair of designer sunglasses. Be on the lookout for defective microphones.
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This isn't me! What am I?

Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
"Most human beings have an almost infinite capacity for taking things for granted. "

-- Aldous Huxley, writer

JPUBE
Journal of Public Economics
A PEDestrian's Guide
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