Central bank accountability means:
A. central bankers are only accountable to the banks in their respective countries.
B. central bankers must hold press conferences to explain their monetary policy views.
C. politicians will establish goals and central bankers will report on their progress.
D. central bankers are not accountable to any elected officials.
Answer: C
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Variable costs are:
A. costs that don't depend on the quantity of output produced. B. costs that depend on the quantity of output produced. C. one-time costs. D. None of these is true.
If an economy has perfect income equality, its Gini coefficient would be
a. 1 b. 100 percent c. 100 d. 0 e. 50–50
Which of the following is most likely to be a major source of growth in per capita GDP?
A. a high investment / GDP ratio B. a high rate of inflation C. rapid population growth D. rapid growth in the money supply
In economics, a fixed cost is a cost that
A) is present only in the short run. B) goes up as the level of output goes up. C) goes down as the level of output goes up. D) does not vary with the level of output.