NO.PZ2016010801000086
问题如下：
The central bank of Country A has an expansionary monetary policy and set a 4.5% 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 > 4.5%, 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> 4.5%，因此通胀目标应该大于2.3%
视频里面解释为什么policy rate>neutral rate是contractionary policy说因为policy rate大于了neutral所以代表inflation高。想问一下为什么high policy rate可以推出high inflation呀？一般不应该是high rate代表inflation降低了吗？
