A Former Fed Chair Ben Bernanke Had Been More Precise

question 127

Multiple Choice

A former Fed Chair Ben Bernanke had been more precise than other Chairs, suggesting a core inflation rate of ________ per year as being the 'equivalent' to price stability.

• A) 0 to 1 percent
• B) 0 to 2 percent
• C) 1 to 2 percent
• D) 1 to 4 percent

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Definitions:

Concave

Describes a shape or curve that is curved inward, resembling the inner surface of a sphere or circle.

Indifference Curves

Graphical representations showing combinations of goods or services that give a consumer equal satisfaction and utility.

Demand Curve

A graph showing the relationship between the price of a good or service and the quantity of it that consumers are willing to purchase at different prices.

Supply Curve

A graphical representation that shows the relationship between the price of a good or service and the quantity supplied.