The "dual mandate" refers to the:
A. twin responsibilities of the Federal Reserve, to use monetary policy to ensure price stability and maintain full employment.
B. orders given to both the Federal Reserve and the Treasury department to ensure price stability.
C. responsibility given to the Federal Reserve and the Congress to conduct monetary and fiscal policy respectively, to ensure price stability.
D. role that the Fed has by being a governmental agency but also must act in the best interest of all citizens of the United States.
A. twin responsibilities of the Federal Reserve, to use monetary policy to ensure price stability and maintain full employment.
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Economic theory asserts that an optimal decision is one that:
a. ignores implicit costs. b. ignores explicit costs. c. ignores the time frame in which costs and benefits are incurred. d. has chosen to undertake all of those activities that add to net gains.
Why does the model of perfect competition imply that firms will produce the products that households want the most?
What will be an ideal response?