In July 1993, Board of Governors Chairman Alan Greenspan Testified

question 72

Multiple Choice

In July 1993, Board of Governors Chairman Alan Greenspan testified in Congress that the Fed would no longer use what as a guide for conducting monetary policy?

• A) The inflation rate
• B) Monetary aggregates
• C) Implicit nominal anchors
• D) The federal funds rate

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Definitions:

Output

The amount of goods or services produced by a person, machine, factory, or country.

Variable Costs

Costs that change in proportion to the volume of goods or services produced.

Accounting Profit

The financial gain calculated by subtracting total expenses from total revenues, as per accepted accounting principles.

Units

Basic quantities or measurements, used as standards for expressing and comparing quantities.