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HYSTERESIS: The notion that the natural rate of unemployment is affected by historical events, especially the onset of a business-cycle contraction. Hysteresis results because unemployed resources are permanently changed, through loss of job skills or seniority, making them less employable when the contraction is over. The labor market itself might be permanently change. The result is a permanent increase in structural and frictional unemployment and a higher natural unemployment rate. Alternatively, a prolonged business-cycle expansion can generate long-term changes that cause a permanent decrease in the natural unemployment rate.
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TRUST: An organizational structure that gives control over several business firms, usually in the same industry, to a single board of trustees with the purpose of monopolizing a market. This type of trust was outlawed by antitrust laws, especially the Sherman Act, passed in the late 1800s and early 1900s. The Standard Oil Trust, controlled by J. D. Rockefeller and dismantled through the Sherman Act, is perhaps the most famous monopoly trust. The use of a trust to establish a monopoly is really just an extension of the common, and legal, notion of trust, in which one person controls the assets legally owned by another. Legal trusts are frequently established for the assets or wealth owned by children. Parents then control this wealth until the children reach a give age (usually 21 years old). See also | monopoly | antitrust | antitrust laws | Sherman Act | Clayton Act | Federal Trade Commission Act | collusion | merger |
Recommended Citation:TRUST, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: April 29, 2024].
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CONSUMER CONFIDENCE, AGGREGATE DEMAND DETERMINANT One of several specific aggregate demand determinants assumed constant when the aggregate demand curve is constructed, and which shifts the aggregate demand curve when it changes. An increase in consumer confidence causes an increase (rightward shift) of the aggregate demand curve. A decrease in consumer confidence causes a decrease (leftward shift) of the aggregate demand curve. Other notable aggregate demand determinants include interest rates, federal deficit, inflationary expectations, and the money supply.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store hoping to buy either clothing for your kitty cats or a set of luggage without wheels. Be on the lookout for infected paper cuts.
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
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"Something in human nature causes us to start slacking off at our moment of greatest accomplishment. As you become successful, you will need a great deal of self-discipline not to lose your sense of balance, humility and commitment." -- H. Ross Perot
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SOFFEX
Swiss Options and Financial Futures Exchange
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