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EMPLOYMENT-POPULATION RATIO: The ratio of employed persons to the total civilian noninstitutionalized population 16 years old or older. Also termed the employment rate, the employment-population ratio is used as an alternative indicator of the utilization of labor resources.
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Lesson 13: The Firm | Unit 5: The Bigger Picture
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Page: 23 of 24
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- The business sector:
- The business sector is the basic macroeconomic sector containing the private, profit-seeking firms in the economy that combine scarce resources into the production of goods and services.
- The business sector includes all of the productive business firms in the economy.
- This collective of business firms is one of four aggregate sectors used in the macroeconomic analysis of the economy.
- The key function of the business sector is to produce the goods and services.
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CONSUMER ADVISORY COUNCIL A support committee of the Federal Reserve System that provides advice and input to the Federal Reserve Board of Governors on matters dealing with consumer credit. The Federal Advisory Council (FAC) is comprised of 30 members, representing a broad spectrum of consumer related interests. The CAC is one of three Federal Reserve Board advisory committees. The other two are Federal Advisory Council and Thrift Institutions Advisory Council.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale hoping to buy either pink cotton balls or a genuine down-filled comforter. Be on the lookout for celebrities who speak directly to you through your television.
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This isn't me! What am I?
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"The time to repair the roof is when the sun is shining." -- John F. Kennedy, 35th U. S. president
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SAS
Statistical Analysis Software
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