The Fed Took Action in Late 2008 to Significantly Decrease

question 144

Multiple Choice

The Fed took action in late 2008 to significantly decrease the federal funds rate.This action is are best considered:

• A)an offensive action.
• B)a defensive action.
• C)both offensive and defensive actions.
• D)neither offensive nor defensive actions.

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Definitions:

Conditional Estate

An ownership interest in which the holder has the same interest as that in a fee simple absolute except that this interest is subject to a condition.

Patent

Protection that grants the holder the exclusive right to produce, sell, and use the object of the patent for 20 years; can be obtained for a product, process, invention, machine, or a plant produced by asexual reproduction.

70 Years

A measure of time often associated with copyright duration, extending 70 years beyond the life of the creator.

Easement

An irrevocable right to use some part of another’s land for a specific purpose without taking anything from it.