Sec 35.4 MC The Cost of Reducing Inflation

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1、1. SoonafterhebecamethechairmanoftheFederalReserveSystemin1979,PaulVolckerembarkedonacourse a. ofaccommodativemonetarypolicy. b. ofdisinflation. c. thatwasdesignedtoreducetheunemploymentrate. d. thatproducedresultsthatwereclearlyconsistentwiththosepredictedbyrational-exp

2、ectationstheorists.ANSWER:  bDIFFICULTY:  EasyREFERENCES:  TheCostofReducingInflationLEARNING OBJECTIVES:  ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS:  PricelevelsKEYWORDS:  BLOOM'S:ComprehensionCUSTOM ID:  001.35.4-MC-MANK082. In1979,Fedchai

3、rPaulVolckerdecidedtopursueapolicy a. thatwouldleadtodisinflation. b. thatwouldcreatefallingprices. c. toaccommodatecontinuingadversesupplyshocks. d. thatmaintainedmoneygrowthatitscurrentlevel.ANSWER:  aDIFFICULTY:  EasyREFERENCES:  TheCostofReducingInflationLEARNING OBJ

4、ECTIVES:  ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS:  PricelevelsKEYWORDS:  BLOOM'S:KnowledgeCUSTOM ID:  002.35.4-MC-MANK083. Disinflationisdefinedasa a. zerorateofinflation. b. constantrateofinflation. c. reductionintherateofinflation. d. n

5、egativerateofinflation.ANSWER:  cDIFFICULTY:  ModerateREFERENCES:  TheCostofReducingInflationLEARNING OBJECTIVES:  ECON.MANK.010-Analyzetherelationshipbetweenmoneygrowthandinflation.TOPICS:  PricelevelsKEYWORDS:  BLOOM'S:KnowledgeCUSTOM ID:  003.35.4-MC-MANK084. Disinfla

6、tionisareductionin a. thepricelevel. b. theinflationrate. c. theconsumerpriceindex. d. Alloftheabovearecorrect.ANSWER:  bDIFFICULTY:  ModerateCopyrightCengageLearning.PoweredbyCognero.Page 30REFERENCES:  TheCostofReducingInflationLEARNING OBJECTIVES:  ECON.MANK.010-Analy

7、zetherelationshipbetweenmoneygrowthandinflation.TOPICS:  PricelevelsKEYWORDS:  BLOOM'S:KnowledgeCUSTOM ID:  004.35.4-MC-MANK085. Disinflationisa a. reductioninthepricelevel,whereasdeflationisareductionintherateofinflation. b. reductionintherateofinflation,whereasdeflatio

8、nisareductioninthepricelevel. c. slowreductioninthepricelevel,whereasdeflationisarapidreductioninthepri