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Questions and Answers
Which of the following is NOT one of the ECB's primary mandates?
Which of the following is NOT one of the ECB's primary mandates?
- Promoting economic development (correct)
- Stabilizing prices
- Sustainable growth
- Maintaining inflation levels below 2%
How often does the Governing Council of the ECB meet to assess economic and monetary developments and take its monetary policy decisions?
How often does the Governing Council of the ECB meet to assess economic and monetary developments and take its monetary policy decisions?
- Three times a month
- Twice a month (correct)
- Once a month
- Four times a month
What is the main goal of the ECB's monetary policy?
What is the main goal of the ECB's monetary policy?
- To increase the value of the Euro
- To maintain inflation levels above 2%
- To promote economic development
- To stabilize prices (correct)
Which of the following is NOT one of the ECB's four key functions?
Which of the following is NOT one of the ECB's four key functions?
Which of the following countries is NOT a member of the eurozone?
Which of the following countries is NOT a member of the eurozone?
What is the main responsibility of the ECB's Governing Council?
What is the main responsibility of the ECB's Governing Council?
Which of the following is NOT one of the specific tasks carried out by the ECB?
Which of the following is NOT one of the specific tasks carried out by the ECB?
What is the main goal of the ECB's foreign exchange operations?
What is the main goal of the ECB's foreign exchange operations?
Which of the following is NOT one of the eurozone member countries?
Which of the following is NOT one of the eurozone member countries?
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Study Notes
European Central Bank (ECB)
- The ECB has three primary mandates: price stability, stability of financial system, and support to EU's economic policies
- The Governing Council of the ECB meets every six weeks to assess economic and monetary developments and take monetary policy decisions
- The main goal of the ECB's monetary policy is to maintain price stability in the eurozone
Structure and Functions of the ECB
- The ECB has four key functions: monetary policy, banking supervision, macroprudential policy, and foreign exchange operations
- The Governing Council of the ECB is responsible for setting monetary policy and making key decisions for the eurozone
Eurozone and Membership
- The eurozone consists of 19 of the 27 EU member states
- Denmark and the United Kingdom are not members of the eurozone
- The main goal of the ECB's foreign exchange operations is to maintain a stable foreign exchange market
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