Why Did Monetarist Critics of the Fed Welcome the Appointment

question 25

Multiple Choice

Why did Monetarist critics of the Fed welcome the appointment of Arthur Burns as chairman of the Board of Governors in 1970?

• A)Burns promised to make fighting unemployment his top priority.
• B)Burns promised to use the federal funds rate as an operating target.
• C)Burns promised to use monetary aggregates as targets.
• D)Burns promised to stabilize the exchange value of the dollar.

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Definitions:

Sustainability Vision Statement

A declaration of an organization's objectives and approach towards integrating environmental, ethical, and social considerations into its operations for long-term viability.

Economic Improvements

Enhancements or positive changes in the economic conditions of a region, sector, or community, often reflected in metrics like GDP growth, employment rates, and living standards.

Social Improvements

Initiatives or endeavors aimed at enhancing the well-being and quality of life of a community or society through various means, including education, health services, and community development.

Sustainability

The practice of meeting current needs without compromising the ability of future generations to meet their own needs, often focusing on environmental, social, and economic balance.