During a Period of Renewed Inflation Fears in 1988,the Governor

question 22

Multiple Choice

During a period of renewed inflation fears in 1988,the governor of the Bank of Canada,Mr.John Crow,announced that monetary policy would henceforth be guided more by

• A)exchange rate targets since depreciation of the Canadian dollar tends to be inflationary.
• B)real GDP growth.
• C)the goal of long-term "price stability."
• D)the level of real income growth and "price stability."
• E)unemployment levels and the level of prices.

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Definitions:

Mudsill

A derogatory term historically used to refer to the lowest class of workers, particularly in the Southern United States, suggesting a foundation that others build upon but do not acknowledge.

South Carolina

A state located in the southeastern United States, known for its historic cities, coastal landscapes, and as an early adopter of the Articles of Confederation.

Slavery

The condition in which individuals are owned by others, who control where they live and at what they work.

Vigilance Societies

Groups formed by private citizens to act as self-appointed law enforcement to protect community interests, often present in areas where they perceived official law enforcement as inadequate.