1 When the Fed makes an open market purchase of government securitiesTreasury Bills, TBs; Treasury Notes, TNs; Treasury Bonds, TBNs--, the official money supply or M2 shall: Group of answer choices Remain unchanged All of the above Increase Decrease Question 2 When the Fed makes an open market sale of government securities, or sale of treasuries (TBs, TNs,...), M2 shall: Group of answer choices Increase Decrease Remain unchanged None of the above All of the above Question 3 When the Fed buys more dollars from overseas than sell dollars to overseas, the nominal dollar value vis--vis other currencies shall: Group of answer choices None of the above All of the above Increase Decrease Remain the same Question 4 When the Fed sells more dollars to overseas than purchase dollars from overseas, the nominal dollar value vis--vis other currencies shall: Group of answer choices Increase All of the above Decrease None of the above Remain the same Question 5 All of the following principal components are subparts of the AS, EXCEPT: Group of answer choices .Corporate securities --equity, fixed income, packaged, derivatives, etc. Consumption Net exports Planned and Unplanned investments Government purchases Question 6 During which of the following eras was the 'Misery Index' (the sum of the Inflation Rate + the Unemployment Rate) the highest? Group of answer choices 1960-1964 1979-1981 1985-1986 1971-1972 Question 7 Major sources of shifts in the AS curve include changes in: Group of answer choices All of the above World economy Government policy Interest rates a. Business Expectations, inventories, contracts Question 8 The tendency of the Fed's policymakers to increase the interest rates aims at: Group of answer choices Boosting inflationary pressures None of the above Pushing up tax rates Slowing down the rate of inflation Question 9 Budget deficit refers to: Group of answer choices Earmarks PAYGO expenditures None of the above Entitlements Less tax revenues than public spending Question 10 All of the following principal components are subparts of the AD, EXCEPT: Group of answer choices Net exports Income taxes Government purchases Consumption Planned investments Question 11 Price stability plus full employment are US Congress mandates to: Group of answer choices All of the above The US Treasury The White House The Fed or the US Central Bank Question 12 Major sources of shifts in the AD curve include changes in: Group of answer choices Government policy None of the above World Economy All of the above Expectations Question 13 Inflation Rate + Unemployment Rate equals: Group of answer choices Moral Hazard Misery index Fiscal index Forex index Question 14 The tendency of policymakers to delay painful anti-inflation policies until after an election is an example of: Group of answer choices Keynesianism Taylor rule Time-inconsistency Inside lags Question 15 Labor productivity corresponds to: Group of answer choices Mining Productivity None of the above Agricultural elasticity (Output/Labor Input) x Time Question 16 Budget items like Social Security and Medicare that are not subject to annual appropriations are known as: Group of answer choices All of the above PAYGO expenditures Appropriations Entitlements Earmarks Question 17 Which of the following is/are thought to be the main cause(s) for the US dollar decline? Group of answer choices Selling more dollars to overseas central banks by the Fed Both a and b More market supply of dollars than demand for dollars All of the above Question 18 T/F: A curve showing an inverse relationship between inflation and unemployment is known as the Phillips Curve. Group of answer choices True False Question 19 Globalization--T/F: ..inflation reached unprecedented levels, as in 1920, when wholesale rates rose to 62%. Group of answer choices True False Question 20 ..Keynesian and post-Keynesian advocates [state that] the GESS is a system that generates multinational economic growth. Group of answer choices True False Question 21 The GESS' global economics thesis may be based on two principal arguments only, viz., the world trade argument and the world peace argument. Group of answer choices True False Question 22 Between 1944-1966, the GESS was organized via a single national money, i.e., the American dollar being convertible into gold. Group of answer choices True False Question 23 In 1970, Japan became the fifth largest member of the IMF after the US, England, Germany, and France. Group of answer choices True False Question 24 In March 1968, in the city of Stockholm, a new world composite money was borne, labeled the Special Drawing Rights or SDRs. Group of answer choices True False Question 25 The Group of Twenty, G-20, was composed of the Group of Fifteen (G-15) plus representatives of the developing world. Group of answer choices True False