问题如下:
The central bank of Country A has an expansionary monetary policy and set a 5% policy rate. Assume A has real trend rate of economic growth of 2.2%, the inflation target is most likely:
选项:
A. smaller than 2.3%.
B. larger than 2.3%.
C. equal to 2.3%.
解释:
B is correct. An expansionary monetary policy is characterized by a policy rate that is below the neutral rate. Note that neutral rate = trend rate + inflation target = 2.2%+ inflation target > 5%, therefore the trend rate should be larger than 2.3%.
考点:中性利率
解析:扩张性货币政策的特点是政策利率低于中性利率。注意,中性利率=趋势利率+通胀目标= 2.2%+通胀目标> 5%,因此趋势利率应该大于2.3%
这道题不严谨吧?大于2.3%不一定大于2.8%啊?比如取2.5%,大于2.3%,但是就不正确不是吗?