In Theory,the Fed Is

question 84

Multiple Choice

In theory,the Fed is

• A)the only national entity responsible for economic policy.
• B)central planning body for the economy.
• C)independent of both the president and Congress.
• D)the main fiscal policy body in the federal government.
• E)None of these choices is true.

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Definitions:

Bound

Being legally or morally obligated to do something or restricted by some form of constraint.

Ratify

To formally approve or confirm an agreement or treaty, making it officially valid.

Principal

The original amount of money invested or loaned, not including profits or interest.

Agent's Unauthorized Contract

A contract or agreement made by an agent without the proper authority or permission from the principal, often raising questions of enforceability and liability.