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COLLECTIVE BARGAINING: The negotiation process between a union and the company that employs the union's members -- usually going by the moniker of management. The purpose of collective bargaining is to find mutual agreement on wages, fringe benefits, workhours, promotion criteria, grievance procedures, and everything else that has to do with employment. The end result of this process is a collective bargaining agreement, which is a formal contract between management and the union. A negotiation process that breaks down without reaching an agreement might lead to a strike, lockout, or mediation.

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Lesson 13: Aggregate Demand | Unit 3: The Curve Page: 11 of 22

Topic: Slope <=PAGE BACK | PAGE NEXT=>

The aggregate demand curve has a negative slope.
  • This negative slope means that households, business, government and foreign sectors are inclined to increase their aggregate spending on real production if the price level decreases and decrease spending if the price level rises.
Three reasons:
  • The real-balance effect.
  • The interest-rate effect.
  • The net-export effect.

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FOREIGN EXCHANGE MARKET

A market that trades the currencies of different countries. The foreign exchange market is actually a series of different markets, each exchanging the currency of one nation for that of another nation. A foreign exchange market sets the price of one currency in terms of the other; a price termed the foreign exchange rate, or simply exchange rate. The impact of government exchange rate policies, including fixed exchange rates, flexible exchange rates, and managed flexible exchange rates, can be illustrated using the foreign exchange market.

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APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time at a flea market trying to buy either a 200-foot blue garden hose or a video camera with stop action features. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?

More money is spent on gardening than on any other hobby.
"When you play, play hard; when you work, don't play at all. "

-- Theodore Roosevelt, 26th US president

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