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AFL: The abbreviation for the American Federation of Labor, which 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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Lesson 13: Aggregate Demand | Unit 5: Policies Plus Page: 20 of 22

Topic: Business Cycles <=PAGE BACK | PAGE NEXT=>

The consumption, investment, government purchase, and net export determinants cause the aggregate demand curve to shift and lead to macroeconomic instability.
  • This instability is best viewed in terms of business cycles. The effects of business-cycle instability are:
    • Recession. Means higher unemployment rates and related problems.
    • Booming Expansion. Possibility of higher inflation rates and related problems.
Aggregate demand is the prime source of economic instability.

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DEMAND

The willingness and ability to buy a range of quantities of a good at a range of prices, during a given time period. Demand is an inverse relation between price (demand price) and quantity (quantity demanded). Demand is one half of the market exchange process--the other is supply. This demand side of the market draws inspiration from the unlimited wants and needs dimension of the scarcity problem.

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APLS

BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time strolling through a department store trying to buy either software that won't crash your computer or any book written by Stephan King. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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In the early 1900s around 300 automobile companies operated in the United States.
"You are never given a dream without also being given the power to make it true."

-- Richard Bach, Author

AIBD
Association of International Bond Dealers (now called International Securities Market Association)
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