1. As the economy recovers from a recession
A. unemployment rises immediately
B. unemployment falls immediately
C. unemployment falls after a lag
D. unemployment rises after a lag
2. Government spending in the USA is likely to ___________ over the next few decades as the population gets ___________ on average.
A. increase; older
B. increase; younger
C. decrease; older
D. decrease; younger
3. The Lombard system is a method of doing
A. federal funds loans
B. open market operations
C. discount loans
D. reserves calculations