In Early 2001, Most Economists Were Predicting That the Federal

question 60

Essay

In early 2001, most economists were predicting that the federal government would be running budget surpluses for the next ten years. (Note: It didn't take place!) Would these surpluses have had any impact on the ability of the Fed to control the monetary base?

---

Definitions:

Petrochemical Production

The process of converting natural resources, like crude oil or natural gas, into chemical products used in manufacturing and industry.

Conglomerate

A large corporation formed by the merging of separate and diverse firms into a single entity, typically involving companies in entirely different industries.

Robinson-Patman Act

A United States federal law that aims to prevent anticompetitive practices by producers, specifically price discrimination.

Price Discrimination

occurs when a seller charges different prices to different buyers for goods of like grade and quality, without justification.