Institutions are
A) the same thing as organizations.
B) associations of individuals or groups.
C) always embodied in a written set of rules.
D) a set of rules governing behavior, whether written or not.
E) only relevant on international issues.
D
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During the years 1979 to 1982, the Federal Reserve's announced policy was monetary targeting. During this time period the Federal Reserve
A) hit all of their monetary targets. B) did not hit any of their monetary targets because it is believed that controlling the money supply was not the intent of the Federal Reserve. C) did not hit any of their monetary targets because they were unrealistic. D) hit about half of their monetary targets.
Turning points in business cycles occur when
A) a new business cycle is initiated at the trough. B) the economy hits the peak or trough in the business cycle. C) the business cycle begins to follow a new pattern that differs from previous business cycles. D) a new business cycle is initiated at the peak.