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AMERICAN FEDERATION OF LABOR: Started as a collection of craft unions in 1886, this is now one half of the umbrella organization for labor unions in the United States (the AFL part of AFL-CIO). As a collection of craft unions, the AFL primarily represented skilled workers in particular occupations. However, it also contained unions representing unskilled industrial workers, which led to a rift among AFL members in 1938 and spawned the formation of the Congress of Industrial Organizations (CIO). This rift was closed in 1955, when both joined together to form the AFL-CIO, which is the primary advocate for workers and labor unions in the United States.
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Lesson 7: Market | Unit 2: The Numbers
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Page: 8 of 22
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What would happen if buyers and sellers faced a price of 50 cents?- At 50 cents, the quantity demanded is 400 tapes.
- At 50 cents, the quantity supplied is 400 tapes.
- The quantity demanded is the same as the quantity supplied at this 50 cent price.
- This IS equilibrium.
- This equilibrium price and equilibrium quantity will remain until something else changes.
- This 50 cent price is the only one that matches the quantity demanded and the quantity supply
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EXCHANGE The process of trading one valuable commodity (good, service, or resource) for another. An exchange can be voluntary, such as what transpires through a market, or involuntary, such as when taxes are imposed by government.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius looking to buy either a set of steel-belted radial snow tires or a wall poster commemorating the 2000 Presidential election. Be on the lookout for letters from the Internal Revenue Service.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"We should never allow ourselves to be bullied by an either-or. There is often the possibility of something better than either of those two alternatives. " -- Mary Parker Follett, management coach
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PIH
Permanent Income Hypothesis
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