List the Fed's Main Policy Tools and Briefly Explain Each

question 15

Essay

List the Fed's main policy tools and briefly explain each one.

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Definitions:

Stratification

The hierarchical arrangement and classification of society into different layers based on socioeconomic status, race, ethnicity, or other distinguishing factors.

American Dream

The conviction that, irrespective of one's birthplace or social class, it is possible for individuals to achieve their unique form of success in a community where everyone has the opportunity for upward social movement.

Social Conflict Theory

A sociological perspective that views society as composed of groups competing for scarce resources, emphasizing the role of power and coercion in producing social order.

Vertical Social Mobility

The movement between different class statuses, often called either upward mobility or downward mobility.