Inflation targeting is a framework for carrying out monetary policy whereby
A) the central bank commits to a monetary growth rule.
B) the central bank commits to achieving a publicly announced level of inflation.
C) the central bank commits to achieving a target level of inflation which is never announced publicly.
D) the central bank adopts a rigid target for inflation and ignores declines in output.
B
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According to your text, with the exception of South Africa, the record of economic growth in sub-Saharan Africa
A) is tragic. B) mirrors that of most of the Latin American countries. C) is about the same as South Korea. D) is respectable, but not fantastic.
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In Exhibit 3-7, if price happened to currently be $75 in this market, a _______ would result, causing a __________ in price.
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