1. True/False questions pertaining to the Federal Reserve and monetary policy. Label each of the following statements as true or false. If false, briefly explain why the statement is false, (a). The monetary base exceeds the money supply. (b). The Federal Reserve decreases the monetary base whenever it sells government securities. (c). When reserve requirements are increased interest rates should increase. (d). Stable employment is one of the objectives of monetary policy. (e). Unexpected high levels of inflation aid debtors at the expense of lenders. (1). The Fed exclusively controls the money supply. (g). The Fed has never specified a long-run goal for the inflation rate. (h). The Fed's "QE" purchases have included large quantities of agency mortgage-backed securities (MBS). Treasury bonds, and corporate bonds and equities. (1). Pledging to keep short term interest rates "lower for longer" has been a strategy led by the Federal Reserve at the zero lower bound