CH 30 Monetary Policy - University of Lethbridge Department of Economics ECON 1012 Introduction to Microeconomics Instructor Michael G Lanyi Chapter 30

CH 30 Monetary Policy - University of Lethbridge Department...

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University of Lethbridge Department of Economics ECON 1012 Introduction to Microeconomics Instructor: Michael G. Lanyi Chapter 30 Monetary Policy 1) Core inflation is the percentage change in A) the Consumer Price Index including the eight most volatile prices.B)the target midpoint inflation rate of 2 percent per year.C) the Consumer Price Index excluding the eight most volatile prices.D) the average of the 8 most volatile prices in the Consumer Price Index.E)an inflation rate that ranges between 1 percent and 3 percent annually. Topic: Monetary Policy Objective and Framework 2) How is responsibility for monetary policy set forth in Canada? A) The Bank of Canada administers monetary policy as directed by the Minister of Finance. B)The Bank of Canada Act places responsibility for the conduct of monetary policy on the Bank's Governing Council. C) The Prime Minister bears ultimate responsibility for monetary policy. D) The Canadian Government administers monetary policy through the office of the Minister of Finance. E)Both B and D. Topic: Monetary Policy Objective and Framework 3) Which of the following benefits flow from the application of an inflation-control target? Topic: Monetary Policy Objective and Framework 4) Which of the following issues is a concern that critics express about the use of an inflation-control target? Topic: Monetary Policy Objective and Framework
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