A bank panic refers to a situation where banks are afraid they will not have enough customers to borrow all their excess reserves

Net public debt is

A) the excess of annual tax revenues over annual government spending. B) the sum owed by the public to keep the Social Security system afloat. C) the portion of government debt held by private individuals and firms. D) the excess of annual government spending over annual tax revenues.

If real interest rates in the United States are higher than those of our trading partners, what will tend to happen to the foreign exchange value of the dollar and the U.S. current account deficit or surplus?

a. The dollar will depreciate; the current account will move toward a deficit. b. The dollar will depreciate; the current account will move toward a surplus. c. The dollar will appreciate; the current account will move toward a deficit. d. The dollar will appreciate; the current account will move toward a surplus.