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ORGANIZED LABOR: The general term used when referring to the collection of labor unions representing the interests of workers. Of course, to be "organized" labor, labor needs to "organized," which is what labor unions are all about. Prior to the onset of the labor union movement in the mid-1800s, labor was not organized, meaning that each and every worker acted independently in the pursuit of wages, fringe benefits, or improved working conditions. Even in modern times, organized labor represents only a fraction of the total labor force in the United States, something less than a fourth.
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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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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store seeking to buy either storage boxes for your income tax returns or an AC adapter for your CD player. Be on the lookout for small children selling products door-to-door.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"I've always believed that if you put in the work, the results will come. I don't do things half-heartedly. Because I know if I do, then I can expect half-hearted results. " -- Michael Jordan, basketball player
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ANOVA
Analysis of Variance
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