The Fed's diversity reflects
A. The targeting of interest rates as the only goal to be achieved by monetary policy.
B. Fixed rules that are set for monetary growth rates.
C. Changes in the targets the Fed sets for adjusting monetary policy.
D. Guidance from Congress.
Answer: C
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The natural rate hypothesis argues that the economy will
The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Which curve intersects the AVC curve at its minimum point?
A) the MC curve B) the ATC curve C) the AFC curve D) the MP curve
Which of the following taxes is based on the benefits-received principle?
a. corporate income taxes b. personal income taxes c. property taxes d. gasoline excise taxes e. user fees that collect the same amount from each person