货币金融学（第十二版）英文版题库及答案chapter21.pdfVIP

Economics of Money, Banking, and Financial Markets, 12e (Mishkin) Chapter 21 The Monetary Policy and Aggregate Demand Curves 21.1 The Federal Reserve and Monetary Policy 1) Because prices are slow to move in the short-run, when the Federal Reserve lowers the federal funds rate A) nominal interest rates rise. B) real interest rates fall. C) inflation falls. D) real interest rates rise. Answer: B Ques Status: Previous Edition AACSB: Analytical Thinking 2) Because prices are sticky in the short-run, when the Federal Reserve raises the federal funds rate A) nominal interest rates fall. B) real interest rates rise. C) inflation falls. D) real interest rates fall. Answer: B Ques Status: Previous Edition AACSB: Analytical Thinking 21.2 The Monetary Policy Curve 1) The monetary policy (MP) curve indicates the relationship between A) the Federal Funds Rate and the real interest rate. B) the Federal Funds Rate and the inflation rate. C) the inflation rate and the expected inflation rate. D) the real interest rate the central bank sets and the inflation rate. Answer: D Ques Status: Previous Edition AACSB: Reflective Thinking 2) The upward slope of the MP curve indicates that A) the central bank lowers real interest rates when inflation rises. B) the central bank raises real interest rates when inflation falls. C) the central bank raises nominal interest rates when inflation rises. D) the central bank raises real interest rates when inflation rises. Answer: D Ques Status: Previous Edition AACSB: Reflective Thinking 1 Copyright © 2019 Pearson Education, Inc. 3) The Taylor Principle states that central banks raise nominal rates by ________ than any rise in expected inflation so that real interest rates ________ when there is a rise in inflation. A) less; rise B) more; fall C) less; fall D) more; rise Answer: D Q