Which of the following statements describes the situation for the United Kingdom at a real interest rate of 4 percent?
a. There is a capital inflow from the United States to the United Kingdom.
b. The quantity of loanable funds supplied by United Kingdom lenders is greater than the quantity demanded by United Kingdom borrowers.
c. The interest rate is at the equilibrium level for the United Kingdom.
d. U.K. borrowing is greater than U.K. lending, and the excess is exported to the United States as a capital outflow.
b. The quantity of loanable funds supplied by United Kingdom lenders is greater than the quantity demanded by United Kingdom borrowers.
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According to the National Bureau of Economic Research, the recession that began in December 2007
A) lasted 12 months. B) lasted 18 months. C) lasted 27 months. D) did not end until December 2011.
If expectations are formed rationally and wages are inflexible in the short run, the short-run aggregate supply curve is
A) upward sloping. B) horizontal. C) vertical. D) relatively flat.
Police officers earn higher wages in part because of the dangers associated with their profession
a. True b. False Indicate whether the statement is true or false
Which of the following statements concerning the First Bank of the United States is not true?
a. Its creation was proposed by Alexander Hamilton. b. States' rights advocates opposed its creation. c. It could present state bank notes to the state banks for payment in specie. d. It was the first central bank in the world. e. It was able to control the money supply.