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The Federal Open Market Committee a. by law must focus on stabilizing output rather than maintaining low inflation. b. by law must follow a mechanical
The Federal Open Market Committee a. by law must focus on stabilizing output rather than maintaining low inflation. b. by law must follow a mechanical rule that takes into account deviations of unemployment from its natural rate and deviations of inflation from a target. c. by law must focus on maintaining low inflation rather than stabilizing output. d. operates with almost complete discretion over monetary policy
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