The Fed Has Attempted to Solve the Problems of Being

question 68

Multiple Choice

The Fed has attempted to solve the problems of being unable to directly control the variables that determine economic performance and the timing lags in observing and reacting to economic fluctuations by

• A)pressing Congress for legislation which would expand its powers.
• B)using targets to meet its goals.
• C)abandoning some goals in order to achieve others.
• D)devising new monetary policy tools.

---

Definitions:

Trade Custom

Established practices or patterns of behavior that are widely accepted and followed within a particular industry.

Implied Warranty

A legal assumption that a product will meet certain standards of quality and reliability without being explicitly stated.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights.

Implied Warranty of Fitness

A legal guarantee that goods sold will meet the specific purpose for which the buyer is purchasing them, even if not explicitly stated.