Legislation defining the mission of the Federal Reserve states: "The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long-run growth of the monetary and credit aggregates commensurate with the economy's long-run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates." This is an example of a:

A.

dual mandate.

B.

multiple mandate.

C.

single mandate.

D.

hierarchical mandate.

Question

Sheridan

Business

24 January, 08:03

Legislation defining the mission of the Federal Reserve states: "The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long-run growth of the monetary and credit aggregates commensurate with the economy's long-run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates." This is an example of a:

A.

dual mandate.

B.

multiple mandate.

C.

single mandate.

D.

hierarchical mandate.

+2

Answers (1)

Know the Answer?

Erin Fritz · Answer 1

dual mandate.

Explanation:

dual mandate -

It is the practice in which the elected officials serves in more than one elected or public position.

In Britain, this term is also referred to as double jobbing.

In some cases, the dual mandate is prohibited by the law, as in the case of the federal states, because the federal office holders are not allowed to hold state office.

Hence from the question information, the correct option is dual mandate.