The Taylor rule accurately predicted the changes in the federal funds target during the period
A) when Alan Greenspan was the chairman of the Federal Reserve Board.
B) when Paul Volcker was the chairman of the Federal Reserve Board.
C) when William McChesney Martin was the chairman of the Federal Reserve Board.
D) when Arthur Burns was the chairman of the Federal Reserve Board.
A
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Sophia puts money in the bank and earns a 5 percent nominal interest rate. If the inflation rate is 2 percent, then after one year,
a. Sophia will have 3 percent more money, which will purchase 5 percent more goods. b. Sophia will have 3 percent more money, which will purchase 7 percent more goods. c. Sophia will have 5 percent more money, which will purchase 3 percent more goods. d. Sophia will have 5 percent more money, which will purchase 7 percent more goods.
The U.S. buys $500 billion of goods and $250 billion of services from foreign countries. Foreign countries buy $250 billion of goods and $300 billion of services from the U.S. What is net exports?