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Explain the fact that short-run nominal interest rates rise in response to an increase in the real income.
FTC Commissioners
Officials appointed to the Federal Trade Commission (FTC), a U.S. federal agency, responsible for enforcing antitrust and consumer protection laws.
Staggered Terms
A system used in boards and committees where members are elected for different lengths of time, so not all members are replaced at once.
Fixed Terms
Contracts or agreements that are set for a specific, unchangeable duration of time, specifying start and end dates.
FTC Act
The Federal Trade Commission Act, a law established to prevent unfair business practices and protect consumers by promoting competition.
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