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LABOR SLOWDOWN: A technique used by workers, generally labor union members, who reduce their productivity in an attempt to achieve a particular goal or objective. The goal pursued tends to be relatively minor, such as better lighting, and thus not worth engaging in a formal strike.

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TOTAL VARIABLE COST

Cost of production that does change with changes in the quantity of output produced by a firm in the short run. Total variable cost is one part of total cost. The other is total fixed cost. Variable cost depends on the level of output. If a firm produces more output, then variable cost is greater. If a firm produces no output, then variable cost is zero. A cost measure directly related to total variable cost is average variable cost.

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Today, you are likely to spend a great deal of time watching infomercials wanting to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for telephone calls from former employers.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
"If I have ever made any valuable discoveries, it has been owing more to patient attention than to any other talent. "

-- Isaac Newton, mathematician, physicist

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