20- Which of the following statements is most correct? a. A downward sloping yield curve implies that government securities with long-term maturities have lower interest rates relative to similar quality securities with short-term maturities. b. Commercial paper is a primary source of short-term borrowing used by the U.S. government. c. A decline in interest rates for long-term Treasury securities indicates an increase in investor long-run inflation expectations d. The establishment of the Federal Reserve System has caused the yield curve to always be upward sloping. 21-Which of the following factors is most correct? a. Demand-pull inflation traditionally exists during periods of economic expansion when the demand for goods and services exceeds the available supply of such goods and services b. Cost-push inflation occurs when prices are raised to cover rising production costs, such as wages c. Speculative inflation is caused by the expectation that prices will continue to rise, resulting in increased buying to avoid even higher future prices d. All of the above are correct e. none of the above are correct