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AMERICAN ASSOCIATION FOR THE ADVANCEMENT OF SCIENCE: A scientific society whose main mission is to advance science and innovation throughout the world. The American Association for the Advancement of Science (AAAS for short) publishes one of the most respected scientific magazines called Science. The association and magazine have nearly 140,000 individual and institutional subscribers, plus 272 affiliated organizations in more than 130 countries, serving a total of 10 million individuals. The American Association for the Advancement of Science was founded in 1848 to represent all disciplines of science and to support scientific exchange and discussion of science and society issues.
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Lesson 9: Macro Basics | Unit 2: Macro Problems
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Page: 5 of 16
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Unemployment exists when resources, specially labor, are willing and able to produce goods but are not employed because no one is buying production.- Voluntary unemployment occurs when people choose not to work.
- Involuntary unemployment occurs when people are willing to work, but can't find employment.
Unemployment problems:- The economy suffers because unemployed resources are not producing goods to lessen the scarcity problem.
- The unemployed suffer personal hardships and a lower living standard.
Production lost from unemployed resources can never be recouped.
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FEDERAL RESERVE SYSTEM The central banking authority of the United States that is charged with conducting monetary policy and regulating the commercial banking system. It includes a Board of Governors, 12 District Banks, 25 Branch Banks, and assorted committees. The most important of these committees is the Federal Open Market Committee, which directs monetary policy. The Fed (as many like to call it) was established in 1913 and modified significantly during the Great Depression of the 1930s. Its duties are to maintain the stability of the banking system, regulate banks, and oversee the nation's money supply. The Chairman of the Federal Reserve System is one of the most important and powerful positions in the economy.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store looking to buy either a replacement nozzle for your shower or a decorative windchime with plastic . Be on the lookout for infected paper cuts.
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The average bank teller loses about $250 every year.
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"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
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CSO
Central Statistical Office
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