a. The basic objective of monetary policy is multiple choice 1 to eliminate inflation and lower interest rates. to increase employment and stabilize exchange rates. to assist the economy in achieving a full-employment, noninflationary level of total output. to maintain steady exchange rates and lower inflation. b. A major strength of monetary policy is multiple choice 2 the relatively short appointments of members of the Fed's Board of Governors. its speed and flexibility. the rule that it uses to manage the economy. its long-term consequences. c. Monetary policy is easier to conduct than fiscal policy because multiple choice 3 the Fed has more control of the economy. monetary policy has a much shorter administrative lag than fiscal policy. the economy responds better to monetary policy than to fiscal policy. monetary policy is easier to understand