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YELLOW-DOG CONTRACT: An agreement signed by workers before they are hired, stipulating that they would not join a union after they are hired. This contract was commonly used by firms in the late 1800s and early 1900s to limit labor union membership and thus to prevent unions from exerting control over the labor market. Yellow-dog contracts were outlawed by the Norris-LaGuardia Act in 1932.
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Lesson 16: Aggregate Shocks | Unit 2: Extension
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Page: 6 of 21
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- The different determinant induced shifts of the AD, LRAS, and SRAS curves.
- A few of the more important determinants that shift the AD, LRAS, and SRAS curves.
- How specific real-world issues, such as increases in physical wealth, changes in monetary policy, technological advances, and wage changes, create instability in the macroeconomy.
- How the self-correction mechanism works through wage-changes and the labor market to restore the long-run equilibrium.
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CONSUMER DEMAND THEORY The branch of economics devoted to the study of consumer behavior, especially as it applies to decisions related to purchasing goods and services through markets. Consumer demand theory is largely centered on the study and analysis of the utility generated from the satisfaction of wants and needs. The key principle of consumer demand theory is the law of diminishing marginal utility, which offers an explanation for the law of demand and the negative slope of the demand curve.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store seeking to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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This isn't me! What am I?
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"The road to success is always under construction. " -- Lily Tomlin, Actress
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M2
M1 plus savings types of near monies, including savings deposits, certificates of deposits, money market deposits, repurchase agreements, and Eurodollars
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