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ADVISORY COUNCILS, FEDERAL RESERVE SYSTEM: Three support committees that provide feedback to the Board of Governors of the Federal Reserve System to assist in its assorted regulatory responsibilities, including Federal Advisory Council, Thrift Institutions Advisory Council, and Consumer Advisory Council. The Federal Advisory Council is a broad ranging council comprise of commercial bankers. The Thrift Institutions Advisory Council is comprised of representatives of thrift institutions. The Consumer Advisory Council is comprised of consumer credit representatives.
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AUTONOMOUS INVESTMENT Business investment expenditures that do not depend on income or production (especially national income or even gross domestic product). That is, changes in income do not generate changes in investment. Autonomous investment is best thought of as investment that the business sector undertakes regardless of the state of the economy. It is measured by the intercept term of the investment line. The alternative to autonomous investment is induced investment, which does depend on income.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for attractive cable television service repair people.
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This isn't me! What am I?
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"Defeat is not the worst of failures. Not to have tried is the true failure." -- George E. Woodberry, Author
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LAN
Locally Asymptotically Normal
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