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BOARD OF GOVERNORS: The policy-making head of the Federal Reserve System. The Board is comprised of 7 members, each serving 14-year terms, with one term expiring every two years. This Board, when joined by five Federal Reserve District Bank presidents forms the Federal Open Market Committee. The Chairman of the Board of Governors is considered to be one of the, if not THE, most powerful individuals in the economy.
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SAVING The after-tax disposable income of the household sector that is not used for consumption expenditures. Saving primarily involves the use of income to purchase legal claims through financial markets rather than the direct purchase of physical goods and services (which is consumption expenditures). In the circular flow model, saving is the diversion of household income away from consumption expenditures and into the financial markets, which then flows to business investment expenditures and government purchases. Saving is one of two basic uses of disposable income. The other is consumption expenditures.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either storage boxes for your income tax returns or an AC adapter for your CD player. Be on the lookout for crowded shopping malls.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"There comes a time when the mind takes a higher plane of knowledge but can never prove how it got there. " -- Albert Einstein, physicist
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AAO
Authorized Acquisition Objective
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