iviny I the home construction field 1S. with certain requires disclosure of the finance charge and the annual percentage rate of credit along erms to permit consumers to compare the prices of credit from differing sources. other costs and t a. Truth in Lending Act b. Equal Credit Opportunity Act c. Federal Trade Commission Improvement Act d. Fair Credit Billing Act 16-The dynamic actions of the Federal Reserve System a. Contribute to the smooth everyday functioning of the economy b. Are designed to meet the credit needs of individuals and institutions c. Support depositories and other institutions d. Stimulate or repress the level of prices or economic activity 17- The supply of a currency in international markets depends largely on the: a. Federal Reserve System b. Imports of the issuing country c. Amount of exports that currency will buy from the issuing country d. Confidence of market pa rticipants in the restraint and ability of the monetary authority issuing the currency e "perfect financial storm" that developed in 2008, which put the U.S. economy was on the verge of collapse was characterized by all of the following EXCEPT a. The housing price "bubble" burst in 2006 and began a sharp decline. b. Stock market prices peaked in 2007 and began a sharp decline. c. Many of the mortgage-related debt securities originated and sold to others, or held, by banks became difficult to value during the perfect financial storm and quickly became known as "troubled" or "toxic" assets. d. Individuals and businesses were defaulting on loans and home mortgages in increasing numbers due to the weakening economy and falling home prices. e. All of the above were factors do not include which of the following? e. All of the above were factors 19-Total bank reserves do not include which of the following? a. Deficit reserves b. Excess reserves c. Required reserves d. All the above are included in total bank reserves 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