Related to the Economics in Practiceon p. 541: In January 2014, ...

[renzo156]

Question 1

The Federal Reserve's policy to "lean against the wind" means that

◦ when output is high, the Fed sets a high interest rate.
◦ when price levels are high, the Fed sets a low interest rate.
◦ when output is low, the Fed sets a high interest rate.
◦ when price levels are low, the Fed sets a high interest rate.

Question 2

Related to the 
Economics in Practice on p. 541: In January 2014, ________ was confirmed as Chair of the Board of Governors of the Federal Reserve System.

◦ Ben Bernanke
◦ Paul Volcker
◦ Janet Yellen
◦ Jim Adams

[Juro]

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