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UNITED MINE WORKERS UNION: A labor union representing the interests of workers engaged in mineral extraction, especially coal. The United Mine Workers Union has been one of the more prominent unions involved in the labor union movement. It is also notable as being the first national industrial union established in the United States, when it was formed in 1890. Prior to that time all national unions were craft unions representing workers with specific skills or in specific occupations. The United Mine Workers Union representing all workers employed by mining companies regardless of skills or occupations.

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CENTRAL BANK: The banking authority of a nation that's in charge of ensuring a sound money supply and conducting the country's monetary policy. It's usually authorized by, and works closely with, the government to achieve full employment, low inflation rates , economic growth, and all of the other goals that make people happy, healthy, and wise. Unlike many other nations, which have a single central bank, the good old U. S. of A. actually has a de-central bank.

     See also | bank | money supply | monetary policy | Federal Reserve System | full employment | inflation | unemployment | economic growth |


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ENDPOINT ELASTICITY FORMULA

A simple technique for calculating the coefficient of elasticity by estimating the elasticity for discrete changes in two variables using the initial values of each. The distinguishing characteristic of this formula is that percentage changes are calculated based on the initial values of each variable. An alternative technique is the midpoint elasticity formula.

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Today, you are likely to spend a great deal of time at a crowded estate auction trying to buy either a how-to book on the art of negotiation or a flower arrangement for your aunt. Be on the lookout for strangers with large satchels of used undergarments.
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
"Perhaps the most valuable result of all education is the ability to make yourself do the thing you have to do, when it ought to be done, whether you like it or not; it is the first lesson that ought to be learned; and however early a man's training begins, it is probably the last lesson that he learns thoroughly. "

-- Thomas H. Huxley, Scientist

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