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NATIONAL LABOR RELATIONS BOARD: A government body overseeing relations between unions and management -- the workers and their employers. It was established by the National Labor Relations Act in 1935, but was modified by the Labor-Management Relations Act in 1947. The National Labor Relations Board is the place to go should either unions or management suspect the other side is engaging in unfair labor practices.
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Lesson 11: Elasticity Basics | Unit 5: Market Elasticity
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Page: 24 of 25
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Topic:
Elasticity Determinants
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- Elasticity determinants affect the coefficient of elasticity.
- Availability of Substitutes:
- The elasticities of demand and supply are relatively greater for goods that have a large number of relatively close substitutes-in-consumption or substitutes-in-production.
- Time Period:
- The elasticities of demand and supply are relatively greater for goods over a longer period than a shorter period.
- Proportion of Budget:
- The elasticity of demand is greater for goods that take up a smaller proportion of a buyer's budget.
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FEDERAL FUNDS RATE The interest rate charged by one commercial bank or depository institution for lending Federal Reserve deposits to another commercial bank or depository institution. This is the interest rate determined in the Federal funds market. The Federal funds rate is a key interest rate for both the banking system and the macroeconomy. It is often targeted by monetary policy and is a benchmark used to determine other interest rates in the economy.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either one of those memory foam pillows or a remote controlled train set. Be on the lookout for slightly overweight pizza delivery guys.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis, Supreme Court Justice
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FRS
Federal Reserve System
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