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PRICE FIXING: An agreement by two or more firms in an industry to charge the same price and avoid competing with each other. This is one of the methods businesses use to practice collusion or form a cartel. It is, by the way, against antitrust law.
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ORGANIZATION OF AMERICAN STATES: In 1948, 21 nations of the hemisphere met in Bogota, Colombia, to adopt the Charter of the Organization of American States (OAS). Since then, the OAS has expanded to include the nations of the Caribbean, as well as Canada. Currently, all 35 independent countries of the Americas have ratified the OAS Charter and belong to the Organization. Cuba remains a member, but its government has been excluded from participation in the OAS since 1962. The OAS is the region's premier political forum for multilateral dialogue and action. Among OAS' major goals they work for strengthening freedom of speech and thought as a basic human right, promoting greater participation by civil society in decision-making at all levels of government, improving cooperation to address the problem of illegal drugs and supporting the process to create a Free Trade Area of the Americas. See also | North American Free Trade Agreement | Andean Community | Association of Southeast Asian Nations | Caribbean Community | North American Development Bank | The Free Trade Area of the Americas | The Economic Commission for Latin America |
Recommended Citation:ORGANIZATION OF AMERICAN STATES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: May 6, 2024].
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RECESSIONARY GAP, KEYNESIAN MODEL The difference between equilibrium aggregate production achieved in the Keynesian model and full-employment aggregate production that occurs when equilibrium aggregate production is less than full-employment aggregate production. A recessionary gap, also termed a contractionary gap, is associated with a business-cycle contraction. The prescribed Keynesian remedy for a recessionary gap is expansionary fiscal policy. This is one of two alternative output gaps that can occur when equilibrium generates production that differs from full employment. The other is an inflationary gap.
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More money is spent on gardening than on any other hobby.
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"Long-range goals keep you from being frustrated by short-term failures " -- J. C. Penney, Retailer
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KCBT
Kansas City Board of Trade
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