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1. How is the unemployment rate calculated?

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2. What is inflation?

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3. Who determines monetary policy in the U.S.?

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4. Who is the current Chair of the Federal Reserve System?

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5. During which time period did we experience our last economic recession?

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6. What is the federal funds rate?

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7. Which key interest rate do the Fed’s policymakers control?

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8. What is the Fed’s longer-run inflation target?

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9. What is the Fed’s “dual mandate”?

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10. What is the “real” fed funds rate?

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