The Following Passage Is the Opening Paragraph from the April

question 89

Multiple Choice

The following passage is the opening paragraph from the April 13, 2016 Beige Book: Reports from the twelve Federal Reserve Districts suggest that national economic activity continued to expand in late February and March, though the pace of growth varied across Districts. Most Districts said that economic growth was in the modest to moderate range and that contacts expected growth would remain in that range going forward. Consumer spending increased modestly in most Districts and reports on tourism were mostly positive. Labor market conditions continued to strengthen and business spending generally expanded across most Districts. Demand for nonfinancial services grew moderately overall. Manufacturing activity increased in most Districts. Construction and real estate activity also expanded. Credit conditions improved, on net, in most Districts. Low prices weighed on energy and mining output as well as prospects for agricultural producers. Overall, prices increased modestly across the majority of Districts, and input cost pressures continued to ease.
From the passage, you might expect that the Fed would have given priority to

• A) the promotion of economic growth.
• B) maintaining full employment.
• C) stable prices.
• D) moderate long-term interest rates.

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Definitions:

Respiratory Efforts

The work the body exerts to breathe, including the use of muscles in the chest and diaphragm to inhale and exhale air.

Mother's Presence

The physical or emotional availability and support of a mother, which can significantly impact a child's development and well-being.

Nasopharyngitis

Inflammation of the nasal passages and pharynx, commonly known as the common cold.

Clinical Manifestation

Observable signs and symptoms associated with a specific disease or medical condition.