Which of the following measures did the Fed take during the uncertain days following the terrorist attacks of September 11, 2001?
a. The Fed tightened regulations in the financial markets
b. The Fed increased the discount rate.
c. The Fed bought all the government securities up for sale.
d. The Fed increased the reserve requirement ratio.
e. The Fed demanded interest on the bank reserves held at the Fed.
c
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What is the difference in the concepts of economic growth and economic expansion?
a. Both terms are used interchangeably and refer to quarterly increases in output. b. Economic growth refers to the long-tun upward trend in output over a longer period of time, usually more than a decade, which is measured as the average annual change in output over the period. An expansion refers to a shorter time period during which output increases quarter by quarter or year by year. c. An expansion refers to the long-tun upward trend in output over a longer period of time, usually more than a decade, which is measured as the average annual change in output over the period. Economic growth refers to a shorter time period during which output increases quarter by quarter or year by year. d. Both terms are used interchangeably and refer to the long-tun upward trend in output over a longer period of time, usually more than a decade, which is measured as the average annual change in output over the period. e. Economic growth is the term reserved for periods of prosperity in less developed countries while expansion is the term reserved for developed industrial countries.