Answer the following: monetary policy because the level of these variables affects real income. 1. The personal income tax provision under the a. True TRAIN law is a contractionary fiscal policy b. false a. True 11. the suitable expansionary monetary policy to b. false address economic recession is 2. Generally, central banks with inflation-targeting a. higher interest rate as its way to conduct monetary policy decisions b. lower income and business tax will adjust interest rates when prices fall below c. lower import tariff or rise above its set range. d. quantitative easing a. True 12. if interest rates are very low and the central b. false banks expects inflation to fall below its target, it 3. the impact of expansionary policy during can inject money into the economy to boost recession spending. a. output quickly returns to full employment a. True level b. false b. stay below full employment level 13. a central bank is carrying out a non-traditional c. price slows down monetary policy tool if it chooses to implement d. all of the above forward guidance. 4. expansionary monetary policy is used if a. True economy is in a recession b. false a. True 14. quantitative tightening is aimed to increase b. false money supply in the economy. 5. an appropriate monetary policy to address a. True demand-pull inflationary pressure is b. false a. bearish 15. raising interest rates and lowering personal b. hawkish income tax complement to support C. bullish expansionary economic policy. d. dovish a. True 6. if the government spends more money than it b. false collects in taxes, national savings is negative. a. True b. false O 7. the amount of saving and investment are the foundation of economic growth a. True b. false B. if the central bank increases the interest rate, it will increase the supply of money a. True b. false 9. the imposition of excise tax triggers demand- pull inflation. a. True b. false 10. a central bank normally needs to consider the volume of exports and imports when setting