The Fed's forward guidance in 2011 and early 2012 was framed in terms of keeping interest rates low
A. for an extended period.
B. at least until a particular date in the future.
C. based on outcomes for the unemployment rate and inflation rate.
D. until the next Presidential election.
Answer: B
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How does the concept of catch-up growth explain the diminishing income gap between the developing economies and developed economies?
What will be an ideal response?
The above figure shows the relationship between the Joneses' total consumption and total household income. The figure illustrates that the Joneses' total consumption varies
A) directly with their total household income. B) independently of their total household income. C) inversely with their total household income. D) negatively with their income.
The following equations represent the demand and supply for kumquats
QD = 60 - 3P QS = -20 + 5P What is the equilibrium price (P) and quantity (Q - in thousands) of kumquats? A) P = $20; Q = 10 thousand B) P = $5; Q = 20 thousand C) P = $30; Q = 5 thousand D) P = $10; Q = 30 thousand
Mental or physical labor or help purchased by consumers is a(n)
A. durable consumer good. B. nondurable consumer good. C. service. D. investment.