Selection bias can distort the results of research studies.

Along the long-run Phillips curve, the unemployment rate ________, and the inflation rate ________

A) can be any value; is equal to the natural inflation rate B) is equal to the natural unemployment rate; is equal to the natural inflation rate C) is equal to the natural unemployment rate; can be any value D) can be any value; can be any value E) None of the above answers is correct.

It is the responsibility of the Trading Desk at the Federal Reserve Bank of New York to implement policies in the form of

A) changes in the spread between the federal funds rate and the discount rate that are consistent with rules established by the twelve Federal Reserve bank presidents. B) variations in reserve requirements that are consistent with the announcements by the Chair of the Fed's Board of Governors. C) changes in foreign exchange rates that are consistent with policies established by the Secretary of the Treasury. D) buying or selling government securities that are consistent with the FOMC Directive.