In 2012, the Fed

question 181

Multiple Choice

In 2012, the Fed

• A)adopted a strict monetary rule of 2 percent per year.
• B)adopted inflation targeting, setting a target rate of 2 percent per year.
• C)relaxed all monetary rules and targets in favor of a fully flexible monetary policy.
• D)adopted a nominal GDP growth rate target of 6 percent per year.

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Definitions:

Universal Instantiation

A logical rule that infers from the truth of a universally quantified statement about all members of a domain, the truth of that statement about any specific member.

Quantifier Negation

The process of applying negation to a statement that contains a quantifier, altering its scope and possibly changing the quantifier type (for example, from universal to existential).

Existential Generalization

A logical operation that infers the existence of at least one object in a domain that satisfies a given proposition.

Existential Instantiation

A logical rule that deduces the existence of at least one instance of a predicate from a general statement.