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FED PYRAMID: A simple little diagram that depicts the structure of the Federal Reserve System, which is in the shape of triangle (hence the not totally accurate term "pyramid"), with a large base that comes to a peak. The base of the pyramid contains thousands of commercial banks, which rests on a foundation of the millions of people who make up the nonbank public. The middle of the pyramid includes 37 Federal Reserve Banks, including 12 District Banks and 25 Branch Banks. Resting at the top of the pyramid is the Board of Governors, with the Chairman at the very, very top. The top also has two notable offshoots -- the Federal Open Market Committee and the Federal Advisory Council.
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Lesson 2: Economic Science | Unit 3: Verification
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Page: 10 of 20
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Ceteris Paribus Assumption: In order to test an hypothesis we need to keep constant other factors that may affect it. Other things are called ceteris paribus factors. The last step in the process is to evaluate the hypothesis. We have two possibilities-data and hypothesis agree-- data and hypothesis don't agree. The data and hypothesis agree. - Because we can not prove an absolute, this possibility gives us support for the hypothesis, but not absolute proof that it is correct.
- To get a proof, we need to test the hypothesis many times under several different conditions. But even then, we can not be 100%, absolutely certain.
- With growing certainty of the validity of the hypothesis, it becomes a principle and is added to the theory for an expanded theory.
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SPECIAL INTEREST GROUPS A group of people with shared interests who have more to gain or lose from a candidate, issue, or policy and thus try extra hard to ensure that the political system is aware of their preferences. Special interest groups are the other side of the coin of voter apathy. Motivated rational choices, some people have little or no involvement in the political system others have a great deal. The study of public choice indicates that special interest groups are one source of government inefficiency. Other sources are politicians, voters, and government bureaucracies.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either an AC adapter that won't fry your computer or a case for your designer sunglasses. Be on the lookout for telephone calls from former employers.
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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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"The greatest things ever done on Earth have been done little by little. " -- William Jennings Bryan
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TSE
Toronto Stock Exchange
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