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BOARD OF GOVERNORS: The policy-making head of the Federal Reserve System. The Board is comprised of 7 members, each serving 14-year terms, with one term expiring every two years. This Board, when joined by five Federal Reserve District Bank presidents forms the Federal Open Market Committee. The Chairman of the Board of Governors is considered to be one of the, if not THE, most powerful individuals in the economy.
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SOCIAL SCIENCE The scientific study of society--of human behavior and of social interactions. Economics is one of several social sciences. Others are sociology, political science, and anthropology. Economics is considered a social science because it seeks to explain how society deals with the scarcity problem.
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GREEN LOGIGUIN [What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either one of those memory foam pillows or a remote controlled train set. Be on the lookout for infected paper cuts. Your Complete Scope
This isn't me! What am I?
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"The world is not dangerous because of those who do harm but because of those who look at it without doing anything. " -- Albert Einstein, physicist
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CES Constant Elasticity of Substitution
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