Beginning in June of 2004 and for the Next Eleven

question 92

Multiple Choice

Beginning in June of 2004 and for the next eleven months, the Federal Reserve:

• A)Lowered the target interest rate eleven times
• B)Raised the target interest rate seventeen times
• C)Lowered the target interest rate six times
• D)Kept the target interest rate constant

---

Definitions:

Income Statement

A financial statement that shows a company's revenues, expenses, and profit over a specific period.

Cost Principle

An accounting principle that requires assets, liabilities, equity, and expenses to be recorded at their original cost.

Market Value

The market's current rate for transactions involving the purchase or sale of an asset or service.

Appraisal

The process of professionally estimating the value of a property, often used for taxation or sale purposes.