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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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LEADING ECONOMIC INDICATORS

Ten economic statistics that tend to move up or down a few months BEFORE business-cycle expansions and contractions. Most importantly, these measures indicate peak and trough turning points about three to twelve months before they occur. Leading economic indicators are one of three groups of economic measures used to track business-cycle activity. The other two are coincident economic indicators and lagging economic indicators.

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APLS

PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time at a crowded estate auction hoping to buy either clothing for your pet iguana or a set of hubcaps. Be on the lookout for a thesaurus filled with typos.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
"I believe that every right implies a responsibility, every opportunity, an obligation, every possession, a duty. "

-- John D. Rockefeller, industrialist

LRMC
Long Run Marginal Cost
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