After the Year 2000, the FOMC Changed Some of Its

question 24

Multiple Choice

After the year 2000, the FOMC changed some of its operating procedures.In particular, it stopped setting:

• A)explicit interest rates for commercial banks to charge.
• B)explicit ranges for money growth targets.
• C)explicit number of government bonds to be bought and sold.
• D)standardized real GDP targets.
• E)explicit numbers for the targeted natural rates of unemployment.

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Definitions:

Proximal Goals

Short-term, achievable objectives set as stepping stones toward the accomplishment of larger, long-term goals.

Frequent Feedback

The regular provision of evaluative information to employees about their performance, aiming to encourage improvement and learning.

Specific High Learning Goal

A detailed and ambitious objective aimed at acquiring knowledge or skills over a certain period, enhancing personal development or performance.

Specific High Performance Goal

A detailed and ambitious objective aimed at achieving exceptional outcomes.