Please answer all questions or don't answer at all.

11 Interest income from municipal bonds is exempt from state taxes but is subject to federal taxes. A) true B) false 12. If liquidity influences the yield curve, the forward rate underestimates the market's expectation of the future interest rate. A) true B) false 13. The main monetary policy goal of most central banks is to stabilize the value of the local currency against foreign currencies. A) true B) false 14. The Fed can affect the interaction between the demand for money and the supply of money to influence interest rates, the aggregate level of spending, and therefore economic growth. A) true B) false 15. When both inflation and unemployment are relatively high, there is more disagreement among FOMC members about the proper monetary policy to implement. A) true B) false