Which of the following has NOT changed much as a percent of GDP over the last twenty years for the United States?
i. the official settlements account
ii. the capital and financial account
iii. the current account
A) ii only
B) ii and iii
C) iii only
D) i only
E) None of the above answers is correct because all three have had large swings over the last 20 years.
D
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The demand for money is downward sloping, because at higher interest rates
A) the opportunity cost of holding money is higher. B) the opportunity cost of holding money is decreasing. C) the opportunity cost of holding money is constant. D) the opportunity cost of holding cash is lower.
When the FOMC raises the federal funds rate, almost immediately ________, and a few weeks later the ________
A) short-term interest rates fall; quantity of money and supply of loanable funds decrease B) long-term interest rates rise; quantity of money and supply of loanable funds increase C) long-term interest rates rise; quantity of money and supply of loanable funds decrease D) short-term interest rates rise; quantity of money and supply of loanable funds decrease E) short-term interest rates fall; quantity of money and supply of loanable funds increase
When the Federal Reserve extends a discount loan to a bank, the monetary base ________ and reserves ________
A) remains unchanged; decrease B) remains unchanged; increase C) increases; increase D) increases; remain unchanged
In the open-economy ISLM model, the goods market equilibrium condition is
A) output = consumption + investment + government spending. B) output = consumption + investment + government spending - tax. C) output = consumption + investment + government spending + net export. D) output = potential output.