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December 9, 2022 

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PICKET LINE: This is the traditional method of demonstrating that a labor union is on strike against an employer, whereby union members carry picket signs and walk in a line in front of the employers plant, factory, or place of business. The pickets carried by the striking workers contain messages documenting their striking status and some of their grievances with the employer. The act of walking in an orderly fashion means that they are not engaged in other activities that might be illegal. Crossing the "picket line" is symbolic of attempts to break a streak and to disagree with the goals of the striking workers.

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ECONOMIC POLICIES: Government actions designed to affect economic activity and pursue one or more economic goals. Also called economic policies. The four common types of government policies are: fiscal, monetary, regulatory, and judicial.

     See also | government | fiscal policy | monetary policy | regulatory policy | judicial policy | economic goals |


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SHORT-RUN PRODUCTION ALTERNATIVES

A firm faces three production options in the short run based on a comparison between price, average total cost, and average variable cost. If price is greater than average total cost, a firm earns an economic profit by producing the quantity that equates marginal revenue with marginal cost. If price is less than average total cost but greater than average variable cost, a firm incurs an economic loss, but produces the quantity that equates marginal revenue with marginal cost. If price is less than average variable cost, a firm shuts down production in the short run, incurring an economic loss equal to total fixed cost.

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Today, you are likely to spend a great deal of time at a crowded estate auction hoping to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for a thesaurus filled with typos.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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