1.A major controversy involving the banking industry in its early years was

9. The Federal Reserve Banks are_______institutions since they are owned by the _______.

8. What makes the Federal Reserve so unique compared to other central banks around the world is its

7. The mandate for the monetary policy goals that has been given to the European Central Bank is an example of amandate.

6. Having interest rate stability

5. High unemployment is undesirable because it

4. Monetary policy is considered time-inconsistent because

3. A central feature of monetary policy strategies in all countries is the use of a nominal variable that monetary policymakers use as an intermediate target to achieve an ultimate goal such as price stability. Such a variable is called a nominal

2.Economists believe that countries recently suffering hyperinflation have experienced

1.The most common definition that monetary policymakers use for price stability is

5. The economic hardship resulting from a financial crises is severe, however, there are also social consequences such as