Studies in the 1980s and Early 1990s Showed That, in General

question 151

Multiple Choice

Studies in the 1980s and early 1990s showed that, in general, greater central bank independence

• A) was associated with lower average inflation.
• B) was associated with lower average inflation and higher average real GDP growth.
• C) was associated with lower average inflation and higher unemployment.
• D) was associated with higher average inflation and higher average real GDP growth.

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Definitions:

Laissez-Faire

An economic philosophy of free-market capitalism that opposes government intervention.

Oliver Wendell Holmes

A prominent American jurist and Supreme Court Justice known for his contributions to legal theory and the development of American common law.

National Association of Colored Women

An organization formed in 1896 in the United States, focused on promoting civil rights and improving the conditions for African-American women and their families through education, job training, and community service.

Lynchings

Extrajudicial killings, usually by hanging, performed by a mob with the intention of enforcing justice, revenge, or intimidation without legal trial.