What are some of the implications of the new currencies or forms of money (e.g. mobile money, cryptocurrencies, credit cards) on the conduct of monetary policy
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- How might each of the following factors complicate the implementation of monetary policy: long and variable lags, excess reserves, and movements in velocity?Question 29 If the Reserve Bank increases the quantity of monetary base, then: the cash rate falls — economists call this contractionary monetary policy the cash rate falls — economists call this expansionary monetary policy the cash rate rises — economists call this contractionary monetary policy the cash rate rises — economists call this expansionary monetary policyQuestion 26 Which of the following statements is/are correct? i. The Reserve Bank of Australia (RBA) has responsibility for the conduct of monetary policy. ii. The Commonwealth government determines monetary policy. iii. The Reserve Bank of Australia (RBA) and the Commonwealth government agree on the goal of keeping consumer price inflation between 2 and 3 per cent per annum, on average, over the business cycle. i only ii only i and iii i and ii
- QUESTION 7 What are the two components of the Fed's dual mandate? A. Interest rate stability and foreign exchange stability B. Price stability and output stability C. Output stability and financial market stability D. Price stability and interest rate stabilityQuestion 21 To increase the money supply, the Federal Reserve can a. buy bonds and/or increase the reserve ratio. b. sell bonds and/or increase the reserve ratio. c. sell bonds and/or decrease the reserve ratio. d. None of these e. buy bonds and/or decrease the reserve ratio.ONLY QUESTION 2 The central bank of the country is concerned about the possibility that the country is going to face a high inflation rate, and it adopted a contractionary monetary policy as a result. Analyse how the central bank policy will affect the market for bonds: price, demand, and supply of bonds (hint: refer to relationship between the interest rate and the price of bonds). Using a graph of the money market, discuss how it will affect the demand for and the supply of money. Analyse the process of achieving equilibrium in the money market.
- The narrowest definition of money: Question 9 options: contains only cash and bank reserves held at the Fed. includes the things that can be used in transactions immediately. is referred to as hard money. All of these are true.TOPIC: Dynamic Model of Money Explain this statement: "The dynamic model of money starts with the economy in a steady state, or long-run equilibrium."11. Federal Reserve independence is thought to Question 11 options: a) help Congress to better coordinate monetary and fiscal policy. b) introduce longer-run considerations to monetary policymaking. c) give the President and Congress more influence over monetary policy. d) introduce a short-term inflationary bias to monetary policymaking.
- 7. Currently, the Federal Reserve executes monetary policy by targeting Question 7 options: a) the level and growth of the quantity of money. b) the federal funds interest rate.Question 3 Which one of the following statements best summarizes the Federal Reserve’s monetary policy over the years 2000-2006? Question 3 options: The Federal Reserve continually lowered the federal funds rate to promote economic growth The Federal Reserve has tried to keep the federal funds rate constant The Federal Reserve continually increased the federal funds rate to prevent inflation The Federal Reserve initially increased the federal funds rate to avoid inflation but then lowered the federal funds rate to avoid a recession The Federal Reserve initially lowered the federal funds rate to avoid a recession but then increased the federal funds rate to avoid inflationQuestion 3 (a) What are the functions of money? (b) There were three tools discussed in this session that are used by central banks to affect the money supply. However, not all central bank uses all three. Find out what tools are used by the central bank in your region to affect the money supply