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1. Describe the Fed-Treasury Accord. Why was it implemented? What impact did it have on the effectiveness of monetary policy? 2. Identify the various ways

1. Describe the Fed-Treasury Accord. Why was it implemented? What impact did it have on the effectiveness of monetary policy?

2. Identify the various ways in which the Federal Reserve is insulated from political influence.

3. Describe the conditions leading up to the 1981-82 recession.

4. What was the role of monetary policy in contributing to disinflation in the late 1970s and early

1980s?

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