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FEDERAL OPEN MARKET COMMITTEE: A part of the Federal Reserve System that's specifically responsible for directing open market operations, and is more generally charged with guiding the nation's monetary policy. The FOMC includes the 7 members of the Fed's Board of Governors and 5 of the 12 presidents of Federal Reserve District Banks. The chairman of the Federal Reserve System is also the chairman of the FOMC. The FOMC meets every 45 days to evaluate monetary policy.
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RULE OF CONSUMER EQUILIBRIUM A condition of consumer equilibrium and utility maximization stating that the marginal utility-price ratios for all goods are equal. This rule is a handy way of checking for consumer equilibrium and utility maximization. If the rule is not satisfied, then consumer equilibrium and utility maximization are not achieved.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for high interest rates.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"I have no expectation of making a hit every time I come to bat. What I seek is the highest possible batting average." -- President Franklin Delano Roosevelt
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ABE
Association of Business Executives
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