When Was the Magnuson-Moss Act Passed

question 76

Multiple Choice

When was the Magnuson-Moss Act passed?

• A) 1950
• B) 1955
• C) 1970
• D) 1975
• E) 2000

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Definitions:

Federal Reserve

The central banking system of the United States, which regulates banks, manages the country's money supply, and aims to ensure financial stability.

Monetary Policy

The actions undertaken by a central bank, such as the Federal Reserve, to control the money supply and influence the economy's overall level of activity, inflation, and interest rates.

Fiscal Policy

Government adjustments to its spending levels and tax rates to influence a nation's economy.

Recession

A period of temporary economic decline during which trade and industrial activities are reduced, generally identified by a fall in GDP in two successive quarters.