Which of the following variables are used by macroeconomic policy makers to measure, characterize and manage the macroeconomy in the short turn? And if YES(Y), is it typically a SHOCKS (YS), or a FISCAL POLICY INSTRUMENT, or a MONETARY POLICY INSTREUMENT(YM), or none of either shocks, or instruments (YO). ANSWER ANY 28. Please respond only with: N for "No " YS for "Yes, and it is a shock" YF for "Yes and it is Fiscal Policy Measure" YM for "Yes and it is a Monetary Policy Measure" YO for "Yes and it is neither a shock, nor an instrument" Use Capitals in the blanks below. DON'T Leave SPACES. The machine may mark an improper response wrong! (Each item 0.25 marks, NO negative maring) Enter nothing else other than either of N, YS, YF or YM for each of the items below The variable or measure Your response 1. The growth of income in a small foreign country 2. M3 in the economy 3. Growth rate of nominal wage rate in the economy 4. The popularity of the party in power 5. Current account deficit 6. The GDP growth rate 7. Foreign exchange rate 8. The demand for fertilizer in the economy 9. The inflation levels 10. The repo rate 11. The index of corruption 12. Open market operations 13. The level of national income 14. Imported inflation 15. The growth of world income 16. Fiscal deficit 17. The growth rate in investment 18. The average levels of education of the population 19. Restrictions on the consumption of alcohol 20. The consumption of food 21. The cash reserve ratio 22. The share of high-tech industries 23. High powered money 24. The real effective exchange rate 25. Yield on long term government bonds 26. Expenditure of the central government 27. The poverty level 28. Money supply 29. Unemployment rate 30. The growth in income of a large foreign country 31. The CRR 32. The level of pollution in the economy 33. The rate of growth of consumption 34. Literacy levels 35. The growth rate of money supply 36. The income tax rate