On October 6, 1979, the Federal Reserve abandoned the strategy of targeting the Federal funds rate and focused on target ranges for growth in the monetary aggregates. Since that time, the Federal Reserve
a. has never deviated from that strategy.
b. gave up on interest rate targeting.
c. deviated from target ranges for growth in the monetary aggregates when inflation and unemployment were high.
d. None of the above
D
Economics
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a. It will decrease. b. It will increase. c. It will remain constant. d. Velocity is unrelated to payments.
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