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AMERICAN FEDERATION OF LABOR: Started as a collection of craft unions in 1886, this is now one half of the umbrella organization for labor unions in the United States (the AFL part of AFL-CIO). As a collection of craft unions, the AFL primarily represented skilled workers in particular occupations. However, it also contained unions representing unskilled industrial workers, which led to a rift among AFL members in 1938 and spawned the formation of the Congress of Industrial Organizations (CIO). This rift was closed in 1955, when both joined together to form the AFL-CIO, which is the primary advocate for workers and labor unions in the United States.
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SHORTAGE A condition in the market in which the quantity demanded is greater than the quantity supplied at the existing price. Because buyers are unable to buy as much of the good as they want, a shortage generally causes an increase in the market price, which then acts to restore equilibrium. A shortage, which also goes by the terms excess demand and sellers' market, is one of two basic states of disequilibrium for the market. The other is surplus.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages wanting to buy either a coffee cup commemorating the moon landing or a how-to book on surfing the Internet. Be on the lookout for broken fingernail clippers.
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"He who has begun has half done. Dare to be wise ‚ begin! " -- Horace, poet, satirist
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ARIMA
Autoregressive Integrated Moving Average
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