The Fed's monetary policy instrument is ________.
Fill in the blank(s) with the appropriate word(s).
the federal funds rate
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In the Keynesian model in the long run, an increase in the money supply will cause
A) an increase in output and a decrease in the real interest rate. B) a decrease in the real interest rate but no change in output. C) an increase in the real interest rate and an increase in output. D) no change in either the real interest rate or output.
Who is the second most powerful person in the U.S.?
a. The Fed chairman b. The Vice President c. The Secretary of State d. The speaker of the House of Representatives e. The Attorney General
In the long run, a perfectly competitive firm maximizes profit so P = MC = AC
a. True b. False Indicate whether the statement is true or false
Increases in productivity cause the:
A. production function to shift upward. B. production function to shift downward. C. depreciation function to shift downward. D. investment curve to shift downward.