The official Federal Reserve strategy for implementing its monetary policy objectives is spelled out in the
A) Federal Reserve Board (FRB) Decree.
B) Federal Reserve Bank Cooperative (FRBC) Proposal.
C) Federal Advisory Committee (FAC) Statement.
D) Federal Open Market Committee (FOMC) Directive.
D
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Which of the following shifts the AVC curve upward at Barney's Bagel Bakery?
A) an increase in the hourly wage that Barney pays his workers B) a decrease in the hourly wage that Barney pays his workers C) an increase in the fixed amount of liability insurance premiums that Barney pays for his business D) Both answers A and C are correct.
Refer to Figure 5.1. All else equal, an increase in the number of workers will cause a
A) shift from PF1 to PF2. B) shift from PF2 to PF1. C) movement up and to the right along PF1. D) movement down and to the left along PF2.
Positive market feedback refers to a tendency for
A) potential entrants to an oligopolistic industry to respond to entry deterrence strategies by contemplating setting their prices above prices established by firms already in the industry. B) potential entrants to an oligopolistic industry to respond to entry deterrence strategies by contemplating producing more output than the quantities produced by firms already in the industry. C) a particular product to come into favor with additional consumers because other consumers have chosen to purchase the product. D) price leaders to respond to an increase in market demand by increasing the prices of their products.
When the price of a key input increases suddenly, it causes:
A. the velocity of money to rise. B. demand pull inflation. C. cost push inflation. D. the business cycle to become sporadic.