Central bankers prefer discretion to rules because...

	A.	simplicities of monetary policy
	B.	tradeoffs between policy questions
	C.	strategic interactions between policymakers and market actors
	D.	the uniqueness of particular macroeconomic circumstances

Did the FED improve over the previous central bank?

	A.	No
	B.	it is suspected that the FED did not improve
	C.	it is suspected that the FED did improve
	D.	Yes

Monetary institutions have not delivered macroeconomics financial stability because...

	A.	these are difficult ends to achieve regardless of method.
	B.	political interference reduces the central bank's ability to govern.
	C.	political interference reduces monetary policy effectiveness
	D.	they're inherently incapable of achieving these ends

How did the FED respond to the crisis of 2008?

	A.	monetary policy too tight
	B.	monetary policy too loose
	C.	fiscal policy too loose
	D.	fiscal policy too tight

Why is central bank Independence not enough to solve the knowledge problem?

	A.	central bankers do not have enough power
	B.	central bankers have too little power
	C.	there is genuine uncertainty about the correct monetary policy
	D.	executive, legislative, and special interest groups do not impact central bankers

Choose all of the following that make a monetary rule "real"...

	A.	Specified
	B.	General
	C.	Enforced
	D.	Non-enforced

Why was FED performance so good 1980-2007?

	A.	the Great Moderation
	B.	FED policy was rule like
	C.	FED governors were unusually good during this period
	D.	monetary policy is easy during growth periods