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May 13, 2021 

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

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INDUSTRIAL UNION: A labor union composed of workers in the same industry, often for several different firms, but no necessarily in the same occupation. Common examples of industrial unions represent workers in the automobile, steel, and textile industries. Industrial unions generally exert market control by establishing minimum wages paid to their members. The Congress of Industrial Organizations (CIO) began as a collection of industrial unions.

     See also | labor union | craft union | minimum wage | collective bargaining | union shop | closed shop | open shop | Congress of Industrial Organizations |


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AVERAGE PROPENSITY TO SAVE

The proportion of household income that is used for saving. The average propensity to save (abbreviated APS) is really nothing more than average saving. Together with the average propensity to consume, it indicates how a given level of income is divided between consumption and saving. A related saving measure is the marginal propensity to save.

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APLS

ORANGE REBELOON
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius hoping to buy either a set of serrated steak knives, with durable plastic handles or a pair of blue silicon oven mitts. Be on the lookout for telephone calls from former employers.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
"The tragedy of life is not so much what men suffer, but rather what they miss. "

-- Thomas Carlyle, Historian

MRP
Marginal Revenue Product
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