1- Which of the following was reported in the June 2020 meeting of the FOMC?

a. The coronavirus is causing economic hardship in the U.S. and around the world.

b. Inflation has been kept down, in part by lower oil prices.

c. The target range of the federal funds rate remained at 0% to 0.25%.

d. The vote for the Fed policy was unanimous, 10-0.

e. All of the above.

2- Hunter Lewis argues that the 2008 bailouts by the Federal Reserve weren't meant to help Wall Street so much as they were meant to help:

a. Russia.

b. China.

c. Washington (D.C.).

d. Europe.

e. Latin America.

3- Representative Royce believes that the Federal Reserve has adopted another policy goal - to stabilize the stock market - which he characterized as its ____ pillar of monetary policy.

a. first

b. second

c. third

d. fourth

e. fifth

4- Under a gold standard, if gold flows out of a country due to a trade imbalance:

a. this will lead to a contraction of their money supply.

b. this will lead to deflation of prices.

c. this will lead to a new balance of trade.

d. the nation's central bank can try to undo the effects of this, temporarily, by raising interest rates.

e. All of the above.