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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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AVERAGE TOTAL COST Total cost per unit of output, found by dividing total cost by the quantity of output. When compared with price (per unit revenue), average total cost (ATC) indicates the per unit profitability of a profit-maximizing firm. Average total cost is one of three average cost concepts important to short-run production analysis. The other two are average fixed cost and average variable cost. A related concept is marginal cost.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials looking to buy either a genuine fake plastic Tiffany lamp or a microwave over that won't burn your popcorn. Be on the lookout for high interest rates.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
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"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
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RCPC
Regional Check Processing Center
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