The Economics of Money, Banking and Financial Markets (11th 11E - Mishkin - TB chapter 21

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1、EconomicsofMoney,Banking,andFinancialMarkets,11e(Mishkin)Chapter21TheMonetaryPolicyandAggregateDemandCurves21.1TheFederalReserveandMonetaryPolicy1)Becausepricesareslowtomoveintheshort-run,whentheFederalReservelowersthefederalfundsrateA)nominalinterestratesrise.B)realinterestratesfall.C

2、)inflationfalls.D)realinterestratesrise.Answer:BAACSB:AnalyticalThinking2)Becausepricesarestickyintheshort-run,whentheFederalReserveraisesthefederalfundsrateA)nominalinterestratesfall.B)realinterestratesrise.C)inflationfalls.D)realinterestratesfall.Answer:BAACSB:AnalyticalThinking21.2T

3、heMonetaryPolicyCurve1)Themonetarypolicy(MP)curveindicatestherelationshipbetweenA)theFederalFundsRateandtherealinterestrate.B)theFederalFundsRateandtheinflationrate.C)theinflationrateandtheexpectedinflationrate.D)therealinterestratethecentralbanksetsandtheinflationrate.Answer:DAACSB:Re

4、flectiveThinking2)TheupwardslopeoftheMPcurveindicatesthatA)thecentralbanklowersrealinterestrateswheninflationrises.B)thecentralbankraisesrealinterestrateswheninflationfalls.C)thecentralbankraisesnominalinterestrateswheninflationrises.D)thecentralbankraisesrealinterestrateswheninflation

5、rises.Answer:DAACSB:ReflectiveThinking6Copyright©2016PearsonEducation,Inc.3)TheTaylorPrinciplestatesthatcentralbanksraisenominalratesby________thananyriseinexpectedinflationsothatrealinterestrates________whenthereisariseininflation.A)less;riseB)more;fallC)less;fallD)more;riseAnswer:DAA

6、CSB:ReflectiveThinking4)AnautonomoustighteningofmonetarypolicyA)causesanupwardmovementalongthemonetarypolicycurve.B)causesadownwardmovementalongthemonetarypolicycurve.C)shiftsthemonetarypolicycurveupward.D)shiftsthemonetarypolicycurvedownward.Answer:CAACSB:AnalyticalThinking5)Anautonom

7、ouseasingofmonetarypolicyA)causesanupwardmovementalongthemonetarypolicycurve.B)causesadownwardmovementalongthemonetarypolicycurve.C)shiftsthemonetarypolicycurveupward.D)shiftsthemonetarypolicycurvedownward.Answer:DAACSB:AnalyticalThinking6)BasedontheTaylorPrinciple,acentralbank'sendo