Regarding IBFs, which of the following is correct?
A) not subject to reserve requirements
B) not subject to interest rate regulations
C) were created to permit U.S. banking offices to compete with offshore banks without having to use an offshore banking office
D) All of the above.
D
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Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
The initial impact of the Fed's open market sale of government securities by the Federal Reserve is
A) an increase in the money supply by some multiple of the dollar volume of the sale. B) an increase in commercial bank deposits at the Fed. C) a fall in the money supply by some multiple of the dollar volume of the sale. D) a reduction of the commercial banking system's reserve deposits at the Fed.
The price index was 136 in one year and 142 in the next year. What was the inflation rate between the two years?
a. 1.04 percent b. 4.41 percent c. 6.00 percent d. 42.00 percent
An increase in energy costs will most likely cause the price level and real gross domestic product to change in which of the following ways?
A) PL increase; GDP increase B) PL increase; GDP decrease C) PL increase; GDP not change D) PL decrease; GDP increase E) PL decrease; GDP decrease