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NIRA: The common abbreviation for the National Industrial Recovery Act, which was one of the first acts passed under New Deal program the Roosevelt administration in 1933. The NIRA specifically allowed workers to organized into unions and to engage in collective bargaining without interference from firms. This act was declared unconstitutional in 1935, but while in force gave a big boost to labor unions and membership. The National Labor Relations Act was created in 1935 to replace the NIRA.
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AVERAGE VARIABLE COST Total variable cost per unit of output, found by dividing total variable cost by the quantity of output. When compared with price (per unit revenue), average variable cost (AVC) indicates whether or not a profit-maximizing firm should shut down production in the short run. Average variable cost is one of three average cost concepts important to short-run production analysis. The other two are average total cost and average fixed cost. A related concept is marginal cost.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either a box of multi-colored, plastic paper clips or several orange mixing bowls. Be on the lookout for telephone calls from former employers.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"Few things help an individual more than to place responsibility upon them and to let them know that you trust them." -- Booker T. Washington
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IBRD
International Bank for Reconstruction and Development
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