Every six weeks, the Federal Open Market Committee (FOMC) meets to discuss monetary policy. This discussion is mainly focused on ________
A) information of the equilibrium real interest rate from the past three years
B) the current month's release of the CPI by the BLS
C) the three year projections of the equilibrium real interest rate
D) the past 18 month history and future 18 month projections of the discount rate
E) none of the above
C
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Perfectly elastic demand curves are vertical.
Answer the following statement true (T) or false (F)
How does a natural monopoly differ from a legal monopoly?
What will be an ideal response?
Those living in the poorest quartile of countries would like to emigrate because:
A. earnings are higher for the same skill level in richer countries. B. the opportunities to gain more education are higher in richer countries. C. the cost of living is lower in richer countries. D. All of these statements are true.
Under which of the following situations would a monopolist increase profits by lowering price (and increasing output):
A. if it discovered that it was producing where MC = MR. B. if it discovered that it was producing where its MC curve intersects its demand curve. C. if it discovered that it was producing where MC < MR. D. under none of these circumstances because a monopolist would never lower price.