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LABOR UNION: An organization of workers or employees who act jointly to negotiate with their employers over wages, fringe benefits, working conditions, and other facets of employment. The main function of unions is to provide a balance for the market control exerted over labor by big business.

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UTIL: An hypothetical, as in totally fabricated, unit of measurement for utility that's used by economists to present hypothetical information about utility and consumer demand theory. Economists are fond of making up hypothetical stuff, especially if it drives home an important economic notion. In this case, the term "util" (also frequently used in plural as "utils") is a convenient way to discuss utility and the satisfaction of wants and needs that consumers obtain from consuming or using a good.

     See also | utility | consumer demand theory | satisfaction | second rule of subjectivity | law of diminishing marginal utility | utility maximization |


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UTIL, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: April 13, 2026].


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AGGREGATE EXPENDITURES EQUATION

An equation that summarizes the four aggregate expenditures on gross domestic product by the four macroeconomic sectors. In the study of Keynesian economics, this equation is commonly used to summarize the demand side of the macroeconomy. The aggregate expenditures equation actually comes in three different versions depending on how many of the four sectors and their expenditures are included.

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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a replacement washer for your kitchen faucet or a stretchable, flexible watch band. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
"Education is the ability to listen to almost anything without losing your temper or your self-confidence. "

-- Robert Frost

MR
Marginal Revenue
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