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.
Because of Mansa Musa's pilgrimage across the world (where he showcased his wealth) the kingdom of Mali gained enormous economic success and recognition. When he went on tour showcasing his wealth to everyone he saw, he arguably became the worlds first 'celerity'. Because of his immense wealth and popularity, word got around quickly on how powerful and wealthy the kingdom of Mali is, and many scholars and all sorts of people flocked to Mali. Mansa Musa built mosques and learning centers, and Mali became a hub of learning and a bustling city. Because Mansa Musa gained celerity like status, others recognized Mali as a good place to make money, learn, worship, and live. Because of this boost of population, Mali's economy grew immensely.
Hope this helps! (you might want to look up certain dates and specifics of his pilgrimage, I hope this is a good outline though!)
Answer:
Cotton has the largest per-acre energy costs of all agricultural commodities and so so changes in the price of oil can also directly affect the price of cotton. ... In addition changes in crude oil prices affect the price of polyester, a substitute to cotton in the manufacture of textiles.
Explanation:
Hope it helps
