Ch. 22 EOC Problems: Monetary Policy

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19 Terms

1
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b

2
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b

3
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<p>a. less/more, long-term/short-term b. higher/lower, expected/unexpected c. lower/higher, short run/long run</p>

a. less/more, long-term/short-term b. higher/lower, expected/unexpected c. lower/higher, short run/long run

a. less, long-term b. higher, expected c. lower, long run

4
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b, c

5
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b, c, d

6
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a, b

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a. a, b, c ,d b. a, b c. b

8
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<p>marginal cost/marginal benefit, rises/falls, rises/falls, upward/downward, lower/raise</p>

marginal cost/marginal benefit, rises/falls, rises/falls, upward/downward, lower/raise

marginal cost, rises, falls, upward, raise

9
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<p>a. neutral interest rate/federal funds rate, open market operations/zero lower bound b. short-term/long-term, downward/upward c. unconventional/conventional, neutral interest rate/federal funds rate d. falls/rises, decrease/increase</p>

a. neutral interest rate/federal funds rate, open market operations/zero lower bound b. short-term/long-term, downward/upward c. unconventional/conventional, neutral interest rate/federal funds rate d. falls/rises, decrease/increase

a. federal funds rate, open market operations b. long-term, downward c. unconventional, federal funds rate d. rises, decrease

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c, d

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<p>a. The Federal Reserve lacks accountability because no one audits the Fed. There is no way to know what really goes on behind the scenes. b. The Federal Reserve just prints more money when the economy needs it and gives it to banks. c. A government agency should not have so much control over the economy because politicians are always going to do anything to win the next election.</p>

a. The Federal Reserve lacks accountability because no one audits the Fed. There is no way to know what really goes on behind the scenes. b. The Federal Reserve just prints more money when the economy needs it and gives it to banks. c. A government agency should not have so much control over the economy because politicians are always going to do anything to win the next election.

The Fed is an independent government agency: c The Fed is overseen by the federal government: a The Fed conducts monetary policy through open market operations: b

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<p>Vague and bureaucratic "Fed-speak”, Direct and transparent communication</p>

Vague and bureaucratic "Fed-speak”, Direct and transparent communication

Volatile inflation expectations: Vague and bureaucratic "Fed-speak” Stable inflation expectations: Direct and transparent communication

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a. 0.15 b. 0 c. -0.15

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<p>a. similar/higher/lower b. remain the same/decrease/increase</p>

a. similar/higher/lower b. remain the same/decrease/increase

a. higher b. increase

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a. 1.75, 0.75 b. 8.25, 4.75

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<p>a. not affect/increase/decrease</p>

a. not affect/increase/decrease

a. increase b. c

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<p>a. increasing/leaving unchanged/decreasing, increasing/leaving unchanged/decreasing b. not to change/to increase/to decrease</p>

a. increasing/leaving unchanged/decreasing, increasing/leaving unchanged/decreasing b. not to change/to increase/to decrease

a. decreasing, decreasing b. to decrease

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<p>a. increase/decrease/remain the same b. increase/decrease/remain the same, increase/decrease/remain the same, increase/decrease/remain the same</p>

a. increase/decrease/remain the same b. increase/decrease/remain the same, increase/decrease/remain the same, increase/decrease/remain the same

a. decrease b. decrease, decrease, increase c. c

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a, b