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FEDERAL ADVISORY COUNCIL: A group consisting of Presidents from 12 commercial banks, one from each of the 12 Federal Reserve Districts. This council has no policy making role, but merely offers advice, suggestions, and feedback on how Federal Reserve policies are affecting commercial banks and their customers in non-bank public.
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HOUSEHOLD SECTOR: The basic macroeconomic sector that includes the entire, wants and-needs-satisfying population of the economy. The household sector is the eating, breathing, consuming population of the economy. In a word "everyone," all consumers, all people. This sector includes everyone seeking to satisfy unlimited wants and needs. While it's called "household" sector, this doesn't require that you own a house, live in a house, or even know someone has ever seen a house to be included. The term household sector is merely a short-cut used by economists to indicate the consuming, wants-and-needs-satisfying population. See also | household | gross domestic product | technology | labor force | human capital | circular flow |
Recommended Citation:HOUSEHOLD SECTOR, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: April 27, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: household sector
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NATURAL UNEMPLOYMENT The combination of frictional and structural unemployment that persists in an efficient, expanding economy when labor and resource markets are in equilibrium. Natural unemployment exists when the economy is at full employment, which for practical purposes is defined as the condition in which the quantity of resources demanded is equal to the quantity of resources supplied. Most important for policy purposes, natural employment exists with stable prices, that is, no inflation.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either throw pillows for your living room sofa or a hepa filter for your furnace. Be on the lookout for defective microphones.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Nothing is a waste of time if you use the experience wisely. " -- Auguste Rodin, Sculptor
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OPEC
Organization of Petroleum Exporting Countries
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