The oldest central bank founded in 1694 is the a bank

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48) The oldest central bank, founded in 1694, is the A) Bank of England. B) Deutsche Bundesbank. C) Bank of Japan. D) Federal Reserve System. Answer: A 49) The newest central bank, which began operations in January, 1999, is the 50) Which of the following central banks has the greatest degree of independence? 80
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51) Which of the following central banks has the greatest degree of independence? 52) Of the following central banks, the one that enjoys the least degree of independence is the A) Federal Reserve System. B) Deutsche Bundesbank. C) Bank of Italy. D) Swiss National Bank. Answer: C 53) A trend in recent years is that more and more governments 54) The theory of bureaucratic behavior suggests that the objective of a bureaucracy is to maximize 55) The theory of bureaucratic behavior suggests that the Federal Reserve will 81 56) Which of the following actions are consistent with the theory of bureaucratic behavior? A) The Fed reports its target paths for more than one monetary aggregate. B) The Fed delays the release of Federal Open Market Committee directives. C) The Fed blames high interest rates on budget deficits rather than on inflationary money growth. D) All of the above are consistent with the theory of bureaucratic behavior. E) Only (B) and (C) are consistent with the theory of bureaucratic behavior. Answer: D
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