The FOMC No Longer Sets Targets for M1 and M2

question 144

True/False

The FOMC no longer sets targets for M1 and M2 to meet its goals of price stability and high employment.

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Definitions:

Wage

The fixed regular payment, typically calculated on an hourly, daily, or piecework basis, given by an employer to an employee.

Union Contracts

Agreements between labor unions and employers detailing wages, working conditions, and rights for union members.

Nonunion Workers

Employees who are not members of a labor union and do not have their employment terms negotiated collectively.

Union Density

The ratio of workers who are union members to the total number of workers in a given region or sector, indicative of the strength and reach of labor unions.