In the United States, who determines monetary policy? What is the major tool used to determine monetary policy?
What will be an ideal response?
The Federal Reserve Bank's Federal Open Market Committee determines monetary policy. The committee is made up of the Board of Governors and 5 reserve bank presidents. Their main tool is buying and selling existing U.S. government securities in open markets.
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If the demand for a good is unit elastic
A) a 5 percent increase in price results in a 5 percent increase in total revenue. B) a 5 percent increase in price results in a 5 percent decrease in total revenue. C) a 5 percent increase in price does not change total revenue. D) the demand curve is a straight line with slope of -1.
Aid to Families with Dependent Children was a government program with the goal of:
A. redistribution. B. social insurance. C. economic growth. D. None of these is true.