In the United States, if a customer at HDFC bank writes a check and the recipient of the check deposits the check in Citibank, then the check is cleared by:
A) Citibank. B) the Fed.
C) HDFC bank. D) either HDFC bank or Citibank.
B
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Interest rates and investment move in the same direction when demand shifts toward ________-lived equipment, producing a ________ shift in the IS curve
A) shorter, leftward B) shorter, rightward C) longer, leftward D) longer, rightward
Which of the following statements regarding preferences and indifference curves is true?
A. When choosing between two consumption bundles, a consumer will always prefer the consumption bundle on the lower indifference curve. B. A consumer is indifferent between two consumption bundles that are on the same indifference curve. C. When choosing between two consumption bundles, a consumer will always prefer the consumption bundle that is farthest to the right on an indifference curve. D. When choosing between two consumption bundles, a consumer will always prefer the consumption bundle that is farthest to the left on an indifference curve.
During 2011, the price level in the U.S. rose at a faster rate than the price level in Japan. Other things the same, according to purchasing-power parity, this difference in inflation rates should have caused
a. the nominal exchange rate of the dollar to appreciate relative to the yen. b. the real exchange rate of the dollar to appreciate relative to the yen. c. the nominal exchange rate of the dollar to depreciate relative to the yen. d. the real exchange rate of the dollar to depreciate relative to the yen.
The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.