The Fed Is Considering Eliminating

question 118

Multiple Choice

The Fed is considering eliminating

• A)primary credit lending.
• B)secondary credit lending.
• C)seasonal credit lending.
• D)its lender of last resort function.

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Definitions:

Production Possibilities Frontier

A graph that illustrates the highest possible production levels of two products, based on available resources and technological capabilities.

Scarcity

A basic economic challenge where human desires appear endless but the resources available are finite.

Positive Statements

Assertions about the world that are factual and can be tested for accuracy.

Normative Statements

Assertions about how the world ought to be, reflecting opinions and subjective values rather than empirical facts.