Which of the following best describes the services provided by the Federal Reserve?
a. The Federal Reserve provides banking services to commercial banks and other depository institutions but does not provide banking services to the federal government.
b. The Federal Reserve does not provide banking services to commercial banks and other depository institutions but provides banking services to the federal government.
c. The Federal Reserve provides banking services to commercial banks and other depository institutions and provides banking services to the federal government.
d. The Federal Reserve does not provide banking services to commercial banks and other depository institutions and does not provide banking services to the federal government.
c. The Federal Reserve provides banking services to commercial banks and other depository institutions and provides banking services to the federal government.
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If the prices for the same goods and services are different in two nations, the exchange rate adjusts over the long run to achieve
A) zero net exports for each nation. B) purchasing power parity between the two currencies. C) balance of payments account between the two nations equal to zero. D) a zero current account balance between the two nations. E) interest rate parity.
The sales of firms can
A) flow with the business cycle. B) oppose the business cycle. C) be largely independent of the business cycle. D) all of these choices.