According to the Taylor rule, when real GDP is equal to potential GDP and inflation is equal to its target rate of 2 percent, the Federal fund rate should:

The Federal Reserve was created in

A) 1893. B) 1913. C) 1921. D) 1933.

Given the underlying demographic changes in our society, we can expect

a. budget surpluses to outnumber budget deficits in the years ahead. b. the number of budget surpluses to be approximately equal to the number of budget deficits in the years ahead. c. budget deficits to outnumber budget surpluses in the years ahead. d. budget deficits one year to be followed by a budget surplus the next so that the budget balances every two years.