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WAGNER ACT: An alternative title of the National Labor Relations Act passed in 1935, this modified and replaced the National Industrial Recovery Act that was declared unconstitutional earlier in the year. The Wagner Act was a major labor union promoting act under New Deal program of the Roosevelt administration The Wagner Act, also going by the acronym NLRA, outlawed unfair labor practices by employers, such as the refusal by a firm to negotiate with a union representing a majority of its employees. It also established the National Labor Relations Board, which oversees labor activities.
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CURRENT ACCOUNT SURPLUS: An imbalance in a nation's balance of payments current account in which payments received by the country for selling domestic exports are greater than payments made by the country for purchasing imports. In other words, imports (of goods and services) by the domestic economy are less than exports (of goods and services). This is generally a desireable situation for a domestic economy. However, in the wacky world of international economics, a current account surplus is often balanced by a capital account deficit, which is generally considered an undesireable situation. If, however, the capital account does not balance out the current account, then a current account surplus contributes to a balance of payments surplus. See also | current account | balance of payments | balance of payments surplus | current account deficit | capital account | capital account deficit | domestic | foreign | international economics | international finance | foreign exchange |
Recommended Citation:CURRENT ACCOUNT SURPLUS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: April 19, 2024].
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ALLOCATIVE EFFICIENCY Obtaining the most consumer satisfaction from available resources. In other words, resources are allocated in such a way that consumer satisfaction is at its highest possible level. This is also termed either efficiency or economic efficiency.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time strolling through a department store looking to buy either a coffee cup commemorating the first day of winter or a video game player. Be on the lookout for neighborhood pets, especially belligerent parrots.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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IADB
Inter-American Development Bank
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