Google
Tuesday 
December 11, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
LABOR AGREEMENT: A formal, official, legal contract between a firm and the labor union representing the firm's employees. Such an agreement stipulates the various aspects of employment, including wages, fringe benefits, vacations, layoffs, promotions, and grievance procedures. The terms of the agreement are generally negotiated through the collective bargaining process. Should the collective bargaining process breakdown, the terms of the labor agreement might be helped along through a third-party mediator. If this doesn't help, then the labor union might call a strike or the firm might impose a lockout. Once in effect, any questions about the terms of the agreement are often subject to arbitration.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 13: Aggregate Demand | Unit 3: The Curve Page: 12 of 22

Topic: Real-Balance Effect <=PAGE BACK | PAGE NEXT=>

The amount of production we purchase depends on how much money we have and the price of the production we want to buy.
  • A higher price level means money can buy less real production.
  • A lower price level means money can buy more real production.
The real-balance effect is when a change in the price level changes aggregate expenditures on real production because the purchasing power of money changes.
  • Real refers to the real purchasing power of money.
  • Balances refers to the balance of money we have to purchase.

Course Home | Lesson Menu | Page Back | Page Next

UNDERGROUND ECONOMY

Illegal and unreported market transactions and productive activity that escape the watchful eyes of official record keepers. By most estimates, a substantial amount of productive activity takes place in the underground economy of the United States. Of course, these are only estimates because such activity, by definition, goes unreported. If activity in the underground economy is added to official activity in the "overground" economy, then gross domestic product could be boosted by as much as 25 percent to 50 percent, or more. Inclusion of employment in the underground economy is also likely reduce the official unemployment rate by a few percentage points.

Complete Entry | Visit the WEB*pedia


APLS

GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
Your Complete Scope

This isn't me! What am I?

The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
"There comes a time when the mind takes a higher plane of knowledge but can never prove how it got there. "

-- Albert Einstein, physicist

LIFO
Last In First Out
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2018 AmosWEB*LLC
Send comments or questions to: WebMaster