In the Taylor rule, if the output coefficient a is set to zero, then the central bank
A. is mostly concerned with maintaining a low inflation rate
B. will lower interest rates whenever it goes above 2 percent
C. will aggressively increase interest rates as soon as inflation rises
D. engages in real GDP targeting
E. none of the above
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If a central bank engages in inflation targeting, then
A. it will not change interest rates in response to output fluctuations
B. it will change interest rates aggressively as soon as inflation or output changes
C. it will lower interest rates aggressively as soon as inflation heats up
D. it will increase interest rates aggressively as soon as aggregate supply increases
E. none of the above
The U.S. Fed can most effectively achieve an established federal funds rate target by
A. leaking information about its future intentions to financial markets
B. maintaining a stable monetary growth rate
C. undertaking open market operations to influence bank reserves
D. adjusting monetary growth to maintain a stable inflation rate
E. selling Treasury bills whenever short-term interest rates increase
The federal funds rate is the interest rate that
A. banks charge their best corporate customers
B. banks have to pay when they get a loan from the Fed
C. banks have to pay when they get a loan from another bank
D. banks receive from the Fed for the reserves they hold as deposits at the Fed
E. the federal government pays on its three-month Treasury bills
By lowering short-term interest rates, a central bank can stimulate economic activity
A. since it encourages more investment spending
B. since more durable consumption goods will be bought
C. but only in the short run
D. but it may lead to a higher price level
E. all of the above
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