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LABOR-MANAGEMENT RELATIONS ACT: A Congressional act passed in 1947 that limited the power acquired by U.S. labor unions during the 1930 and into the 1940s. More commonly known as the Taft-Hartley Act, this outlawed unfair labor practices by labor unions to counterbalance earlier legislation that had outlawed unfair labor practices by firms. The Taft-Hartley Act also set up provisions to decertify unions, if members chose to do so, and allowed states to pass right-to-work laws, which would outlaw union shops.
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AGGREGATE SUPPLY DECREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by a decrease in aggregate supply, resulting in and illustrated by a leftward shift of the long-run aggregate supply curve. A decrease in aggregate supply in the long-run aggregate market results in an increase in the price level and a decrease in real production. The level of real production resulting from the shock is a smaller level of full-employment real production.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a replacement remote control for your television or a replacement nozzle for your shower. Be on the lookout for the happiest person in the room.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"There are two big forces at work, external and internal. We have very little control over external forces such as tornadoes, earthquakes, floods, disasters, illness and pain." -- Leo Buscaglia, Author
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OAS
Organization of American States
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