"economics"exercise:Fisher effect
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Questions 1:
According to the Fisher effect, an increase in expected inflation will most likely increase:
A、the real interest rate.
B、 both nominal and real interest rates.
C、 the nominal interest rate.
Questions 2:
The primary monetary policy goal of most major central banks is best characterized as:
A 、maintaining price stability.
B、 stimulating economic growth.
C、 maintaining low interest rates.
C is correct. The Fisher effect states that the nominal interest rate is the sum of the real rate of interest and the expected rate of inflation over a given time horizon. An increase in expected inflation will result in a higher nominal rate.
A is incorrect. An increase in expected inflation increases only the nominal rate.
B is incorrect. An increase in expected inflation increases only the nominal rate.
A is correct. The primary monetary policy goal of most major central banks is to maintain price stability.
B is incorrect. Though stimulating economic growth can be part of certain central banks objectives, the overriding objective is maintaining price stability.
C is incorrect. Central banks may have a variety of objectives, but the overriding one is maintaining price stability.
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