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 since the 1980s have been uniformly: (a) determined by the level of tariffs; (b) negative; (c) a function of fiscal policy, (d) excluded from GDP calculations by the Bureau of Economic Analysis

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 since the 1980s have been uniformly: (a) determined by the level of tariffs; (b) negative; (c) a function of fiscal policy, (d) excluded from GDP calculations by the Bureau of Economic Analysis. 47. All other things remaining the same, a new fiscal stimulus package normally can be expected to: (a) result in a net drop in national income and lower interest rates; (b) be financed by a tax increase of equal magnitude; (c) shift the Is curve to the right to a new equilibrium with higher interest rates and higher national income; (d) be financed by a spending decrease of equal magnitude. 48. Passage of the Federal Reserve Act of 1913 came largely in response to: (a) a series of financial panics over the previous half century; (b) a massive inflow of gold to the United States that caused the money supply to soar and inflation to result; (c) the need for financing of military operations in World War 1; (d) a desire to become the only major country in the world with a central bank. 49. Which of the following is NOT considered to be central to the Federal Reserve's monetary policy mandate? (a) setting conditions conducive to maximum sustainable real economic growth (via maximum employment); (b) setting conditions conducive to price stability: (c) setting conditions conducive to maximum wealth creation in the U.S.; (d) promoting stable financial markets