What is the Federal Open Market Committee and what are its main functions?
What will be an ideal response?
The Federal Open market Committee (FOMC) is the main policy-making group within the Federal Reserve System. It decides upon the nation's monetary policy as conducted through open market operations. The FOMC meets approximately once every six weeks.
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Which of the following statements is correct?
A. For a given nominal interest rate, the real interest will decrease if inflation decreases. B. For a given expected inflation rate, the nominal interest must increase if real interest decreases. C. For a given real interest rate, the nominal interest must increase if expected inflation increases. D. For a given real interest rate, the nominal interest must decrease if expected inflation increases.
In which zone does the total physical product reach it maximum value?
A. Increasing marginal return B. Negative marginal return C. Diminishing marginal return D. Decreasing total physical product
Why is the personal income tax considered to be one of the main features of our modern economy that helps ensure against a repeat performance of the Great Depression?
What will be an ideal response?
The worldwide trend is for populations to be increasingly:
a. Mobile and urban b. Insular and stay at home c. Spread out rural to seaside d. Northern moving because of global warming