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The primary function of the Bank of Utopia is to formulate and implement monetary policy directed to the economic objective of achieving and maintain stability

The primary function of the Bank of Utopia is to formulate and implement monetary policy directed to

the economic objective of achieving and maintain stability in the general level of prices. Do you think this

statement constitutes a hierarchical or dual mandate for the conduct of monetary policy? (Note: justify

your answer with an explanation).

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Recommended Textbook for

Macroeconomics Principles And Policy

Authors: William J. Baumol, Alan S. Blinder

11th Edition

0324586213, 978-0324586213

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