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OPEN SHOP: An employment arrangement in which workers of a firm are free to join or not join a union because employment is unrelated to union membership. Because an open shop tends to limit the proportion of a firm's employees represented, this can significantly dilute a labor union's market control. Open shops are established in states that have right-to-work laws.
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SHORT-RUN AGGREGATE MARKET A macroeconomic model relating the price level and real production under the assumption that SOME prices are inflexible, especially resource prices. This is one of two aggregate market submodels used to analyze business cycles, gross production, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The other is the long-run aggregate market. The short-run aggregate market isolates the interaction between aggregate demand and short-run aggregate supply. The key assumption of this model is that SOME prices, especially resource prices, are inflexible. The primary result of this model is that the economy can achieve short-run equilibrium at real production that is either greater than or less than full-employment.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs wanting to buy either income tax software or a how-to book on the art of negotiation. Be on the lookout for attractive cable television service repair people.
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This isn't me! What am I?
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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.
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"Wherever you go, no matter what the weather, always bring your own sunshine." -- Anthony J. D'Angelo
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VAR
Vector Autoregression
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