The Federal Reserve Act of 2000 says that the Fed "shall maintain <u>long run </u>growth of the monetary and credit aggregates commensurate with the economy's <u>long run</u> potential to increase production.
<u>Explanation:</u>
The Act was created in 1913 and signed by the then ruling president as a way of establishing economic stability. This act introduced the central bank to oversee the state monetary policies. The law was established to set out the structure, purpose and function of the Reserve System.
Due to recession and other financial crisis prior to 1913, investors lacked trust in bank systems, therefore the act was passed to bridge the gap between citizens and the banking system. Over the years it has been amended by Congress to keep up with the changing financial times.
The First Bank of the United States was set up in 1791. It was proposed by Alexander Hamilton, and approved with a 20-year charter till 1811.
When Joseph sees a frail man limping around the corner he owns, he will likely help if the costs of helping are small and Joseph will feel better about himself helping.
Helping someone in need corresponds to a form of empathy and altruism, which is based on the moral emotions we feel when we see a person in a situation that we have the ability to help.
According to the theory of social exchange, altruism only exists if the benefits to the helper outweigh the cost, so supported by this theory, the letter b is correct, and Joseph will help the man if the costs of helping are small.
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Answer:
Knowledge economy is the "knowledge intensive activity for production of goods as well as services."
Explanation:
The type of economy in which the production of goods as well as the services will depend upon the knowledge intensive activity is called as the Knowledge economy. The result of this knowledge intensive activity will be the large portion of the economic growth and also employment. It plays a major role in human capital. Firms also need to attract and retain the workers by adapting new mode of economy. Various latest growth theories will help in increasing the human capital by increasing the knowledge in order to provide the latest source of economic rise and increased productivity.
The caste system regulated many aspects of live, such as what jobs one would have, whom one could marry and the position in the society.
These were taken to be almost impossible to change and they made the society less flexible, with less changes. People didn't see much change nor did they expect many changes, and this stability gave a sense of order.
