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Flashcards on European Central Bank: Role and Responsibilities
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What is the European Central Bank responsible for?
Monitoring price stability and managing the eurozone's monetary policy.
Who governs the European Central Bank?
A board of directors and a president.
How does the European Central Bank ensure price stability?
By controlling inflation and implementing monetary measures.
What is the primary objective of the ECB's monetary policy?
Maintaining price stability in the euro area.
What is the role of the ECB in managing the eurozone's financial stability?
Supervising banks and ensuring their soundness.
Name one tool used by the ECB to implement monetary policy.
Open market operations
Which body is responsible for overseeing the ECB's activities?
The European Parliament
What are the benefits of price stability?
Fostering economic growth and maintaining trust in the currency.
What is the role of the ECB in promoting financial integration?
Ensuring smooth functioning of payment systems and fostering cooperation among euro area central banks.
How does the ECB contribute to financial market stability?
By conducting market operations and providing liquidity to the banking system.
What is the relationship between the ECB and national central banks in the euro area?
They work together in conducting monetary policy and sharing responsibility for financial stability.
What is the ECB's role in the issuance of euro banknotes?
The ECB coordinates the issuance and ensures their quality and safeguarding.
What is the role of the ECB in promoting a secure and efficient payment system?
Establishing and overseeing payment systems and promoting their safety and efficiency.
How does the ECB support economic policies in the euro area?
By providing economic analysis and policy advice to governments.
What is the ECB's role in international relations?
Representing the euro area in international forums and cooperating with other central banks.
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Test Your Knowledge
What is the main responsibility of the European Central Bank?
Monitoring price stability and managing the eurozone's monetary policy.
Regulating international trade.
Enforcing tax laws in the eurozone.
Promoting cultural exchange among eurozone countries.
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Who governs the European Central Bank?
The European Parliament
The European Commission
A board of directors and a president.
The United Nations
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What is the primary objective of the ECB's monetary policy?
Maximizing economic growth
Reducing unemployment
Maintaining price stability in the euro area.
Promoting international trade
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How does the ECB ensure price stability?
By controlling fiscal policy
By controlling inflation and implementing monetary measures.
By setting interest rates for commercial banks
By promoting consumer spending
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What is the role of the ECB in managing the eurozone's financial stability?
Promoting risky investments
Supervising banks and ensuring their soundness.
Encouraging excessive borrowing
Supporting speculative trading
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Which body is responsible for overseeing the ECB's activities?
The United Nations
The European Parliament
The World Bank
The International Monetary Fund
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What are the benefits of price stability?
Fostering economic growth and maintaining trust in the currency.
Increasing government revenues through inflation
Encouraging speculative investments
Promoting income inequality
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What is the role of the ECB in promoting financial integration?
Restricting cross-border trade
Limiting financial transactions
Ensuring smooth functioning of payment systems and fostering cooperation among euro area central banks.
Encouraging protectionist policies
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How does the ECB contribute to financial market stability?
By conducting market operations and providing liquidity to the banking system.
By stimulating excessive borrowing
By promoting risky investments
By encouraging speculative trading
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What is the relationship between the ECB and national central banks in the euro area?
They work independently without any coordination
They work together in conducting monetary policy and sharing responsibility for financial stability.
They compete against each other in setting interest rates
They have no interaction with each other
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