Monetary policy actions are determined by the
A) Federal Open Market Committee.
B) New York Federal Reserve Bank.
C) President of the United States.
D) U.S. Congress.
A
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Over the long run, technological change increases both labor productivity and unemployment rates
a. True b. False Indicate whether the statement is true or false
Suppose workers do not believe the Fed will implement its announced monetary policy plans and the Fed wants to achieve low unemployment. In this situation the Fed would be best off:
a. implementing a policy of high money growth. b. announcing and implementing a policy of low money growth. c. announcing a policy of high money growth and implementing a policy of low money growth. d. following a policy that forces the actual inflation rate to coincide with the expected inflation rate. e. promoting a low rate of inflation and adjusting actual policy plans to economic conditions.