11.Draw the graph of the result of targeting on nonborrowed reserves

19.Please give a graphical explanation of the change in the interest rate on reserves.

20.What are the key advantages and disadvantages of the monetary strategy used by the Fed under Alan Greenspan, in which the nominal anchor was implicit rather than explicit?

21.If the Fed has an interest rate target, why will an increase in the demand for reserves lead to a rise in the money supply?

22.If higher inflation is bad, why might it be advantageous to have a higher inflation target rather than a lower target?

23.What are the lessons from crisis?