To Conduct Open Market Operations,the FOMC Issues a Directive to

question 76

Multiple Choice

To conduct open market operations,the FOMC issues a directive to

• A) the Open Market Desk at the Federal Reserve Bank of New York.
• B) the Board of Governors in Washington, D.C.
• C) the presidents of the district banks.
• D) the chairman of the New York Stock Exchange.

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Definitions:

Preexisting Legal Obligation

An obligation that existed before the current situation or agreement, which may affect the validity of a new contract.

Outputs Contract

An agreement in which the seller agrees to sell all of the production at its facility to a buyer, who agrees to purchase it, often used in industrial or farming contexts.

Oral Modify

The act of making changes or amendments to an existing contract through spoken agreement, as opposed to written modifications.

Debt Settlement

A negotiation process where a debtor and creditor agree on a reduced balance that will be considered as payment in full.