Question 13: Below is a graph of policy interest rates. (a) All countries are expected to tighten rates in the future. (b) In 2017 and 2018, US, Canada and UK

conducted contractionary monetary policy. (c) These policy rates are very short term interbank money market interest rates. (d) These policy rates are simple interest rates per annum. (e) Japan and the Euro area's economies are likely to be struggling the most.