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OPEN MARKET: A market, not unlike that stock market, that trades the U.S. Treasury securities that comprises the federal debt. U.S. Treasury securities are low risk and extremely secure financial instruments that are held by all sorts of investors, especially commercial banks. The Federal Reserve System is also a major holder of U.S. Treasury securities and participant in the open market. In fact, the Federal Reserve System used buying and selling of U.S. Treasury securities through the open market as a means of controlling the money, through what is appropriately termed open market operations.
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CONGRESS OF INDUSTRIAL ORGANIZATIONS: Originally a collection of industrial unions established due to a rift among AFL members in 1938, this is now one half of the umbrella organization for labor unions in the United States (the CIO part of AFL-CIO). Industrial unions included in the CIO, were originally part of the AFL. However, because the AFL primarily represented skilled workers in craft unions, a rift among AFL members developed in 1938, resulting in the creation of the CIO. This rift was closed in 1955, when both joined together to form the AFL-CIO, which is the primary advocate for workers and labor unions in the United States. See also | labor union | American Federation of Labor | AFL-CIO | industrial union |
Recommended Citation:CONGRESS OF INDUSTRIAL ORGANIZATIONS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 3, 2025].
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INFERIOR GOOD A good for which a change in income causes an opposite change in demand. That is, an increase in income causes a decrease in demand and a decrease in income causes an increase in demand. The income elasticity of demand for an inferior good is negative. An inferior good is one of two alternatives falling within the buyers' income demand determinant. The other is a normal good.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at a flea market hoping to buy either a coffee cup commemorating the 2000 Olympics or a birthday gift for your grandmother. Be on the lookout for crowded shopping malls.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Far and away the best prize that life has to offer is the chance to work hard at work worth doing." -- Theodore Roosevelt, 26th US president
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IEBNR
Income Earned But Not Received
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