In a nation's balance of payments, the current account includes
A) the changes in the official reserve transaction account.
B) the purchases of foreign assets.
C) the balance of the trade account, the balance of the services account, and net unilateral transfers.
D) all of the above.
Answer: C
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Some economic historians argue that the Interstate Commerce Commission (ICC) was the first case of the "capture" of a federal regulatory commission. What does this mean?
(a) The railroads used the ICC to solve the problems of cartel management. (b) The users of the railroads—passengers and shippers—influenced the ICC to keep railroad rates high and the quality of those services high. (c) The railroads used the Commission to keep rates high and keep potential new railroads from entering the business. (d) Foreign investors high jacked the ICC to protect their railroad investrments.
Which of the following Fed actions will increase the money supply?
A) open market purchases of Treasury notes B) an increase in the required reserve ratio C) an increase in the discount rate D) all of the above E) none of the above