Because of the large current account deficits accumulated by the United States since 1981, the United States has become a
A) nation with no official reserves.
B) balanced nation.
C) broke nation.
D) creditor nation.
E) debtor nation.
The table above gives data on the U.S. balance of payments in 2019.
E
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The money multiplier formula _____.
(A) Is used by the Board of Governors to decide interest rate cuts. (B) Determines the amount of new money that will be created with each demand deposit. (C) Determines the amount of funds loaned by the Federal Reserve Bank to its members. (D) Is used by the Fed to determine the amount of currency in the economy.
Suppose that the price of wheat is above its equilibrium price. You would expect to see
A) a shortage on the market that causes prices to increase further. B) an increase in quantity demanded because of the high price. C) a leftward shift of the demand curve because of the high price. D) sellers begin to lower their prices because of the surplus of wheat.