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FEDERAL OPEN MARKET COMMITTEE: A part of the Federal Reserve System that's specifically responsible for directing open market operations, and is more generally charged with guiding the nation's monetary policy. The FOMC includes the 7 members of the Fed's Board of Governors and 5 of the 12 presidents of Federal Reserve District Banks. The chairman of the Federal Reserve System is also the chairman of the FOMC. The FOMC meets every 45 days to evaluate monetary policy.
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GOVERNMENT ENTERPRISES Government owned and operated productive activities that operate much like private sector firms. They hire resources and purchase other inputs, then produce goods sold through markets. In some cases, government enterprises compete directly with private firms. One common example of a government enterprise is a city-operated electrical generation and distribution system. In some cities, this service is provided by private, for-profit, businesses. In other cities it is provided by government. Other examples of government enterprises include urban transportation systems, parks and recreational facilities, and communication systems.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs seeking to buy either a green and yellow striped sweater vest or a Boston Red Sox baseball cap. Be on the lookout for celebrities who speak directly to you through your television.
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"Love looks through a telescope; envy, through a microscope. " -- Josh Billings, humorist
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FXA
Foreign Exchange Agreement
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