In January 2003, a New Policy Was Implemented by the Fed

question 63

Multiple Choice

In January 2003, a new policy was implemented by the Fed that established a primary credit rate for its lending facility. Today, this rate is often referred to as the

• A)federal funds rate.
• B)discount rate.
• C)secondary rate.
• D)tertiary rate.

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Definitions:

Integrity

The quality of being honest and having strong moral principles, considered foundational to trustworthiness and ethical behavior in personal and professional contexts.

Statutes

Laws established by a legislative body to regulate, authorize, sanction, grant, declare, or restrict.

Ethical Decisions

Choices made based on moral principles and values, considering what is right and fair for all involved parties.

Entrepreneurs

Individuals who initiate, manage, and accept the risks of a business venture in order to make a profit.