19. Microsoft bonds have the same credit rating as the New York State municipal bonds. If Microsoft bonds have a yield od of 6% and Mr. & Mrs. Jones are in a 35% federal income tax bracket, what is the equivalent New York State municipal bond yield? A. 5.8% B. 5.1% C 3.99 D. 2.1% 21. Stimulating or restricting the economy with the use of taxation and spending is known as the: A. monetary policy B. fiscal policy C. foreign policy D. Investment policy 20. Stimulating or restricting the economy with the use of interest rates is known as the: A. monetary policy B. fiscal policy C. foreign policy D. investment policy 22. Which of the following is(are) the function(s) of the federal reserve? A. clearing checks B. replacing old currency C. providing loans through the discount window D. all of the above 23. According to our class discussion, which of the following is considered the most important Federal Reserve district bank? A. Washington, D.C. B. New York C. Philadelphia D. Dallas members. 24. The Federal Reserve Board is made up of A. 3 B. 5 C. 7 D. 9