Which of the following was NOT one of the causes of the Asian financial crises of 1997 and 1998?
A) A current account deficit and financial account surpluses
B) The use of exports as an engine of economic growth by the countries involved
C) China's 1994 devaluation of its fixed exchange rate
D) The appreciation of the U.S. dollar and depreciation of the Japanese yen
B
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Other things equal, if the Fed increases the discount rate,
A) the monetary base will decrease and the money supply will remain constant. B) the monetary base and the money supply will both decrease. C) the money supply will decrease and the monetary base will remain constant. D) the monetary base will decrease and the money supply may increase or remain constant.
Which of the following statements is correct? a. To control the money supply, the Fed relies primarily on the reserve requirement
b. The discount rate is the rate of interest banks charge to their best customers. c. The Fed changes the reserve requirement frequently. d. Because the Fed has no way to earn income, it is dependent upon Congress for appropriations. e. Banks can turn a borrower's IOU into money.