The FOMC ________
A) meets four times a year to decide on how to conduct open market operations that influence the money supply
B) meets six times a year to decide on how to conduct open market operations that influence the money supply and interest rates
C) meets eight times a year to decide on how to conduct open market operations that influence the money supply and interest rates
D) meets twelve times a year to decide on how to conduct open market operations that influence interest rates
E) none of the above
C
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In perfect competition, what is the relationship between the demand for the firm's output and the market demand?
What will be an ideal response?
The excess burden or deadweight loss of a tax refers to the
a. increase in product price as a result of the tax. b. growth in government funded programs as a result of the revenue generated by the tax. c. loss of disposable income consumers suffer from the tax. d. reduction in gains from mutually beneficial exchanges that are eliminated as a result of the tax.