Current Monetary Arrangements in Hong Kong Are Centered on

question 33

Multiple Choice

Current monetary arrangements in Hong Kong are centered on

• A) a central bank with considerable discretion in combating business cycle fluctuations.
• B) explicit targets for growth rates of the monetary aggregates.
• C) a pure currency board with no discretion.
• D) a currency board without legally binding future commitments.
• E) explicit inflation targets.

---

Definitions:

Cumulative Preferred Stock

A type of preferred stock that entitles shareholders to receive dividends in arrears before any dividends can be distributed to common stockholders.

Par Value

A value assigned to a security or stock by the company that issues it, typically representing the minimum price the security can be sold for upon its initial offering.

Dividend

A portion of a company's earnings distributed to shareholders, usually in the form of cash or additional shares.

Cash Dividend

A payout from a company's profits, determined by the board of directors, given to a group of its stockholders as cash.