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QUESTION 11The taxing and spending policies of the Federal Governmentdesigned to promote national ecomomic goals are known as "fiscalpolicy."TrueFalse3 points QUESTION 12Most states exempt their own municipal securities from their ownstate and local taxes.TrueFalse3 points QUESTION 13Firm commitment underwriting is performed by an investment bankthat has guaranteed the issuer a sum of money that will be raisedby an Initial Public OfferingTrueFalse3 points QUESTION 14The Lead Underwriter, in an IPO, prepares the issueing firm'sapplication that is made to the SECTrueFalse3 points QUESTION 15Insurance is the business of risk shifting.TrueFalse3 points QUESTION 16A Treasury security in which the periodic interest payments beenseparated from the principal repayment and sold as a differentsecurity is calleda T-notea T-bonda Zero Coupon bonda G.O. bonda Revenue bond