The objectives set for the Fed by Congress are:
A. specific on the growth rate for the economy, but vague on all other objectives.
B. by design, quite vague, allowing the Fed to really set its own goals.
C. specific regarding inflation, but vague on all other goals.
D. very specific; this adds to the Fed's accountability.
Answer: B
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Private savings is defined as:
a. Y + TR - C - T b. T - G - TR c. Y + TR + C - T d. T + G + TR
A duopoly is an industry with two firms in it.
Answer the following statement true (T) or false (F)
This agency regulates workplace safety and health conditions
A) Environmental Protection Agency B) Consumer Product Safety Commission C) Equal Employment Opportunity Commission D) Occupational Safety and Health Administration
In the long run, if we ignore changes in velocity, inflation will:
A. equal money growth plus the growth in potential output. B. equal money growth less the growth in potential output. C. equal the rate of money growth. D. be zero.