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- 2b The Government of Zambia has decided to pursue a dual mandate of price stability and economic growth in the conduct of monetary policy. Advise on the possibility of the country achieving both price stability and economic activity stability in the case of a temporary supply shock. Ensure to demonstrate this with the aid of the Aggregate Demand and Aggregate supply framework.part-a: What is the relationship between the price level in a country and the value of money in that country? part-b: What is the impact of an expansionary monetary policy (such as a central bank lowering required reserve ratios) on the inflation rate and the value of money? What is the impact of a contractionary monetary policy (such as a central bank increasing required reserve ratios) on the inflation rate and the value of money? part-c: What is the classical dichotomy of nominal and real variables? How is the classical dichotomy related to the neutrality of money? part-d: Why is inflation referred to as a tax on holding money? part-a: What is the relationship between the price level in a country and the value of money in that country? part-b: What is the impact of an expansionary monetary policy (such as a central bank lowering required reserve ratios) on the inflation rate and the value of money? What is the impact of a contractionary monetary policy (such as a…2) As an economist, identify and justify economic and fiscal policy measures that should be taken by the government of Oman to combat inflation and employment with the aim of reviving the economic condition of the country based on the following: a) Expansionary fiscal policy b) Contractionary fiscal policy c) Expansionary monetary policy d) Contractionary monetary policy
- 32 - What happens as a result of aggregate demand and aggregate supply if the money supply decreases?A) Prices fall – output increasesB) NoneC) Prices increase – output decreasesD) Prices fall – production decreasesE) Prices increase – production increases44)Which of the following statements is most accurate regarding fiscal policy and monetary policy? Select one: a. Monetary policy can be changed more quickly than fiscal policy. Fiscal policy can be changed at any of the FOMC meetings and the smaller number of individuals involved makes it easier to change fiscal policy. b. Fiscal policy can be changed more quickly than monetary policy. Fiscal policy has much shorter delays due to the smaller number of legislators involved. c. Monetary policy can be changed more quickly than fiscal policy. Monetary policy can be changed at any of the FOMC meetings and the smaller number of individuals involved makes it easier to change monetary policy. d. Fiscal policy can be changed more quickly than monetary policy. Monetary policy has much longer delays due to the larger number of legislators involved.3b Using your knowledge of money and banking, show how the equation of exchange can be used to confirm the quantity theory of money. Ensure to elaborate from your demonstration why money supply is a key driver of inflation
- 6. A reduction in government expenditure or an increase in taxes is defined as: expansionary monetary policy. contractionary fiscal policy. expansionary fiscal policy. contractionary monetary policy.(18) Assume that the economy begins in long-run equilibrium and that the federal reserve decides to use open market operations to sell bonds. What happens to the size of the money supply? Group of answer choices (A)It goes up. (B)It goes down. (C) It stays the same.23. Which of the following is not a way that the United States government attempts to control the growth of the American economy and control for inflation? A. by changing reserve requirements B. by raising national debt C. by changing interest rates D. by changing money supply
- 1. Which of the following is a major area of disagreement between activists and nonactivists? Group of answer choices -Activists believe discretionary macroeconomic policy can be applied in a manner that will enhance economic stability. Nonactivists disagree. -Activists believe monetary policy is more potent than fiscal policy. Nonactivists disagree. -Activists believe changes in monetary and fiscal policy exert their effects instantaneously. Nonactivists think they work only with a substantial lag. -Nonactivists think macroeconomic policy is sometimes motivated by the pursuit of political gain. Activists disagree. Which of the following is correct?40. The equilibrium interest rate is determined by ___________________________________. Response option group a. the money demand and supply of the economy, and occurs when people are willing to keep the exact amount of money offered by the monetary authorities b. the aggregate demand and supply of the economy, and occurs when people are willing to keep the exact amount of money offered by the monetary authorities c. the aggregate supply of the economy, and occurs when people are willing to keep the exact amount of money offered by the monetary authorities d. the aggregate demand of the economy, and occurs when people are willing to keep the exact amount of money offered by the monetary authorities 48. The market where negotiable certificates are sold is known as the ___________ market. Response option group a.capital b.negotiable c. of money d. current 49. The sum of the marginal propensity to consume and the marginal propensity to save is ___________. Response option group a. equal…18 Monetary policy refers to actions by a central bank to control the supply of money and interest rates that directly influence the financial markets Select one: a. True b. False