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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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SELF CORRECTION, RECESSIONARY GAP The automatic process in which the aggregate market eliminates a recessionary gap created by a short-run equilibrium that is less than full employment through decreases in wages (and other resource prices). The self-correction mechanism is triggered by short-run resource market imbalances that are closed by long-run price flexibility. The self-correction process of the aggregate market also acts to close an inflationary gap with higher wages (and other resource prices).
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a flea market hoping to buy either a Boston Red Sox baseball cap or a square lamp shade with frills along the bottom. Be on the lookout for high interest rates.
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This isn't me! What am I?
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"A man flattened by an opponent can get up again. A man flattened by conformity stays down for good. " -- Thomas Watson Jr., executive
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OPEC
Organization of Petroleum Exporting Countries
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