Commercial paper has a minimum maturity of

Which of the following is not a correct characterization of the U.S. business cycle?

A) Employment is procyclical. B) Consumption is procyclical. C) Real wages are procyclical. D) Prices are procyclical.

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.