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What Is the FOMC? Who Are the Members of the FOMC

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What is the FOMC? Who are the members of the FOMC? What policy does the FOMC decide?


Definitions:

Test-retest Reliability

A measure of the consistency of a psychological test or assessment over time, determined by administering the test to the same group of people on two different occasions.

Construct Validity

The accuracy of a test in measuring what it alleges to assess.

Test Standardization

The process of administering a test under consistent conditions to ensure the reliability and validity of the results.

Comparison Group

A control group used in an experiment that does not receive the experimental treatment, allowing researchers to compare outcomes.

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