Have Nominal Anchors Used by Various Nations Been Effective in the Real

Multiple Choice

Have nominal anchors used by various nations been effective in the real world?

A) Yes, for the most part. Central banks have become more independent, and inflation rates have fallen on average.
B) There has been very little progress toward reducing inflation using these artificial criteria.
C) Not at all. This highlights the inevitable conclusion that much more needs to be learned about the effectiveness of economic policy.
D) Energy and natural resource prices have risen and, unfortunately, offset any efforts to reduce inflation worldwide.