In November 2007, the Fed Announced Major Enhancements to Its

question 94

Multiple Choice

In November 2007, the Fed announced major enhancements to its communication strategy. Which of the following was a part of the changes?

• A)The forecast horizon for the FOMC's projections was extended from two calendar years to three.
• B)The committee publishes FOMC projections four times a year instead of twice a year.
• C)The release would include a narrative of the forces shaping the outlook and risks to that outlook.
• D)All of the above were proposed changes.

Identify how taxes shift supply and demand curves.

Calculate the total surplus before and after a tax is imposed.

Distinguish between consumer and producer surplus before and after taxation.

Understand the concept of deadweight loss due to taxes.

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Definitions:

Apperception

The mental process by which new experiences are assimilated into existing cognitive structures.

Manic-depressive Illness

A mood disorder characterized by dramatic shifts in mood, energy, and activity levels, also known as bipolar disorder.

Bipolar Disorder

A mental health condition characterized by extreme mood swings, including emotional highs (mania or hypomania) and lows (depression).

Manic-depressive Illness

Another term for bipolar disorder, characterized by mood swings that include emotional highs (mania or hypomania) and lows (depression).