According to the Taylor rule, the Fed should:
a. lower the fed funds rate by 0.5% if RGDP increases 1.0% over potential GDP.
b. raise the fed funds rate by 0.5% if RGDP increases 1.0% over potential GDP.
c. raise the fed funds rate by 1.0% if RGDP increases 0.5% over potential GDP.
d. raise the fed funds rate by 2.0% if RGDP increases 0.5% over potential GDP.
b
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The concept of private property is
A) a legal absolute. B) a matter of degree. C) a moral absolute. D) an invention of economists.
The main categories of taxes levied by the ______________ government are individual income taxes, corporate income taxes, and social insurance and retirement receipts.
a. federal b. state c. local d. city
A deposit in a commercial bank is a liability for the customer who makes that deposit
a. True b. False Indicate whether the statement is true or false
Taking explicit account of a rival's expected response to a decision you are making is called:
A. economic decision making. B. strategic decision making. C. competitive decision making. D. monopolistic decision making.