Who makes up the voting members of the Federal Reserve's Open Market Committee?
What will be an ideal response?
The voting members of the FOMC include the seven Governors of the Federal Reserve System, the President of the New York Federal Reserve Bank; these are the permanent members, and then four Reserve Bank Presidents who take turns serving.
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One problem with the ripple effect from the Fed's monetary policy is
A) the fact that the monetary policy transmission process is long and drawn out. B) that changing the Federal funds target rate seldom has an effect on the markets for reserves and loanable funds. C) the frequent misalignment of the spread between the Federal funds rate and the Federal funds rate target. D) that the Fed's policy sometimes has a large impact on potential GDP as well as its usual impact on aggregate demand. E) the tight relationship between that the Federal funds rate has to aggregate spending.
The Earned Income Tax Credit was created in _____
a. 1970 b. 1975 c. 1982 d. 1991
The view that government intervention obstructs long-run economic growth is attributed to
a. external cycle theorists b. internal cycle theorists c. real business cycle theorists d. housing cycle theorists e. innovation cycle theorists
If adding one more lag of the dependent variable would explain the dependent variable better, then the model is not dynamically complete.
Answer the following statement true (T) or false (F)