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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 11: Circular Flow | Unit 3: Government Page: 12 of 22

Topic: Taxes <=PAGE BACK | PAGE NEXT=>

The government sector tends to be in the middle of most economic activity.
  • Taxes are collected by all levels of government, federal, state, and local.
  • The green flow from the household sector to the government sector is taxes.
  • This flow is household income diverted to the government sector.
Three basic uses of national income:
  • Consumption: Income used by the household sector to buy GDP.
  • Saving: Income diverted to the financial markets for business sector borrowing for capital purchases.
  • Taxes: Income diverted to the government sector for government purchases.
All three come from national income.

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MACROECONOMIC THEORIES

Scientific theories that seek to explain phenomena associated with the macroeconomy. The primary phenomena investigated are unemployment, inflation, and the level of aggregate production. Macroeconomic theories also inevitably provide policy recommendations intended to improve the performance of the economy and to correct macroeconomic problems. A few of the more noted macroeconomic theories are: Classical economics, Keynesian economics, aggregate market (AS-AD) analysis, IS-LM analysis, Monetarism, and New Classical economics.

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APLS

BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius looking to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?

Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
"Man is born to live, not to prepare for life. "

-- Boris Pasternak, writer

ANOVA
Analysis of Variance
A PEDestrian's Guide
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