Which of the Following Are True Statements

question 80

Multiple Choice

Which of the following are true statements?

• A) The FOMC usually meets every six weeks to set monetary policy.
• B) The FOMC issues directives to the trading desk at the New York Fed.
• C) Designers of the Federal Reserve Act did not envision the use of discount lending as a monetary policy tool.
• D) All of the above are true statements.
• E) Only A and B of the above are true statements.

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Definitions:

Most Elastic

Refers to the responsiveness of demand or supply to changes in price or income, with "most elastic" indicating the greatest sensitivity.

Quantity Demanded

The sum total of a service or good that individuals are interested in buying and can afford at an established price.

Price

The monetary contribution expected, required, or made for acquiring something.

Most Inelastic

Describes goods or services with a demand that is least responsive to price changes; price changes have little effect on the quantity demanded.