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LABOR UNION MOVEMENT: Activities on the part of workers in the United States, beginning in the mid-1800s and extending into the mid-1900s, to establish labor unions and otherwise promote the interests of workers. This movement, which coincided with the onset of the U.S. industrial revolution, was launched with the Commonwealth versus Hunt court decision in 1842 which made it legal to join a labor union. The labor union movement had a turbulent and violent history as organized labor sought to gain greater control over labor market activities. The movement reached its peak in the 1950s, with just under 30% of the labor force belonging to labor unions.

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

Topic: Interest-Rate Effect <=PAGE BACK | PAGE NEXT=>

Changes in the interest rate can alter consumption and investment spending.

Changes in the investment and consumption spending that occur when changes in the price level cause changes in the interest rate is the interest-rate effect.

  • Investment and consumption expenditures are made with borrowed funds. The interest rate affects the cost of borrowing these funds.
  • The price level affects the interest rate:
    • A higher price level induces a higher interest rate, which raises the cost of borrowing and discourages investment and consumption.
    • A lower price level induces a lower interest rate, which reduces the cost of borrowing and encourages investment and consumption.

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CONSERVATIVE

A political view that favors--(1) limited government intervention in the economy, (2) extensive reliance on markets, (3) strong national defense, (4) protection and promotion of existing cultural ideals and beliefs, and (5) economic rewards predominately based on productive efforts.

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APLS

BLACK DISMALAPOD
[What's This?]

Today, you are likely to spend a great deal of time strolling through a department store trying to buy either a pair of blue silicon oven mitts or a coffee cup commemorating the 2000 Olympics. Be on the lookout for a thesaurus filled with typos.
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Two and a half gallons of oil are needed to produce one automobile tire.
"No amount of business school training or work experience can teach what is ultimately a matter of personal character. "

-- Truett Cathy, Chick-fil-A Inc. founder

T-BILL
Treasury Bill
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