Answer: long-term process involving a change in responsibilities/duties
Explanation:
The elimination of the position of Texas State Treasurer apart from being the dynamics of the election between the last State Treasurer, Martha Whitehead and Republican opponent David Hartman in 1994, it was also as a result of a long-term process involving a change in the duties of the state Treasurer.
Overtime, the office of the State Treasurer became redundant as the duties and responsibilities of the Treasurer were carried out by the office of Comptroller of public account. Thus there was no more need for the position.
Martha Whitehead who ran for office in 1994 promised to abolish the office if she won and she did.
In 1995, legislation was passed to scrap the office.
Monetary policy is the control of the quantity of money available in an economy and the channels by which new money is supplied.
<h3>What is
Monetary policy?</h3>
The monetary authority of a country adopts monetary policy to regulate the money supply or the interest rate payable for very short-term borrowing, frequently in an effort to reduce inflation.
The central bank's macroeconomic policy is known as monetary policy. It is a demand-side economic strategy used by a nation's government to achieve macroeconomic goals like inflation, consumption, growth, and liquidity. It involves managing the money supply and interest rate.
Price stability is the main goal of monetary policy. In order to promote sustainable economic growth, the general price level in the domestic economy must remain as low and stable as possible in order to achieve the goal of price stability.
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