According to Oatley,granting the Central Bank Independence Should Lead to

question 33

Multiple Choice

According to Oatley,granting the central bank independence should lead to

• A) short-term lower inflation.
• B) short-term lower unemployment.
• C) short-term political convenience.
• D) long-term higher economic growth.
• E) long-term higher unemployment.

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Definitions:

Financial Crises

Periods of significant disruptions in financial markets that are characterized by sharp declines in asset prices and the failure of financial institutions, leading to economic downturns.

Achaemenids

Refers to the first Persian Empire, ruled by the Achaemenid dynasty from approximately 550-330 BCE, known for its impressive administration system, monumental architecture, and multicultural approach to governance.

Lion Capital

The top part of an Ashokan pillar, famously known as the national emblem of India, featuring four lions standing back to back.

Ashoka

was an ancient Indian emperor of the Maurya Dynasty, who ruled the Indian subcontinent from c. 268 to 232 BCE, known for his conversion to Buddhism and spreading Buddhist principles.