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OPEN SHOP: An employment arrangement in which workers of a firm are free to join or not join a union because employment is unrelated to union membership. Because an open shop tends to limit the proportion of a firm's employees represented, this can significantly dilute a labor union's market control. Open shops are established in states that have right-to-work laws.
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Lesson 12: Elasticity and Demand | Unit 2: The Continuum
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Page: 8 of 25
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- Let's now consider the remaining two alternatives on the elasticity continuum:
- Relatively Elastic: Relatively elastic demand results when small changes in price lead to relatively larger changes in quantity.
- Relatively Inelastic: Relatively inelastic demand results large changes in price result in relatively small changes in quantity demanded.
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BANK ASSETS What a bank owns, including loans, reserves, investment securities, and physical assets. Bank assets are typically listed on the left-hand side of a bank's balance sheet. Bank liabilities, what a bank owes, are listed on the right-hand side of a bank's balance sheet. Net worth is the difference between assets and liabilities. The largest asset category of most bank is loans, which generates interest revenue. A critical asset category used to maintain the safety of deposits is reserves (vault cash and Federal Reserve deposits).
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway trying to buy either a birthday gift for your aunt or a pair of leather sandals that won't cause blisters. Be on the lookout for strangers with large satchels of used undergarments.
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This isn't me! What am I?
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The average bank teller loses about $250 every year.
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"You miss 100% of the shots you never take. " -- Wayne Gretzky, hockey player
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CPI-W
Consumer Price Index-Urban Wage Earners and Clerical Workers
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