Quarterly data for the years 1988-93 for the nominal federal funds interest rate and the output ratio show that the Fed

A) reacted to a high output ratio by raising the interest rate.
B) reacted to a high output ratio by lowering the interest rate.
C) reacted to low output ratios but not to high output ratios.
D) did not react to movements in the output ratio.


A

Economics

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A. 0.69. B. 0.51. C. 1. D. 0.64.

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