Hierarchical mandates ________.
A) puts the goal of price stability first and then allows for other goals
B) requires all goals to be met simultaneously
C) is only used by the Bank of Canada
D) is only used by the Federal Reserve

Question

Quizplus · Accepted Answer

Hierarchical mandates prioritize certain goals over others. The Bank of Canada and the Federal Reserve both use hierarchical mandates, but the specific goals and priorities may differ between them. The Bank of Canada, for example, prioritizes the goal of maintaining price stability while also considering other factors such as economic growth and employment.

Hierarchical Mandates ________