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WILDCAT STRIKE: An unofficial and usually spontaneous strike or work stoppage by union members. A wildcat strike is not authorized by the labor union representing the workers. Such strikes generally occur because (1) labor has specific problems or concerns that have not been satisfactorily addressed by employers or (2) workers feel that union leaders are not acting in the best interest of the union members. This is also termed an outlaw strike.

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Menu of Lessons
A. Introduction
  • Economic Basics
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  • B. The Market
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  • Market
  • Market Shocks

  • C. The Macroeconomy
  • Macro Basics
  • Gross Domestic Product
  • Circular Flow
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  • D. The Aggregate Market
  • Aggregate Demand
  • Aggregate Supply
  • Equilibrium
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  • E. Money and Banking
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    Macroeconomics

    Introductory Macroeconomics is the study of the aggregate economy, including the topics of inflation, unemployment, business cycles, gross domestic product, money, fiscal policy, and monetary policy.

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    BALANCED-BUDGET MULTIPLIER

    A measure of the change in aggregate production caused by equal changes in government purchases and taxes. The balanced-budget multiplier is equal to one, meaning that the multiplier effect of a change in taxes offsets all but the initial production triggered by the change in government purchases. This multiplier is the combination of the expenditures multiplier, which measures the change in aggregate production caused by changes in an autonomous aggregate expenditure, and the tax multiplier which measures the change in aggregate production caused by changes in taxes.

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    ORANGE REBELOON
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    Today, you are likely to spend a great deal of time flipping through mail order catalogs wanting to buy either a Boston Red Sox baseball cap or a square lamp shade with frills along the bottom. Be on the lookout for deranged pelicans.
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    A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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