When the Fed purchased a large quantity of long-term bonds, as it did during 2008-2010 with its quantitative easing policies, but most banks held onto their new reserves, the money multiplier ________ while the monetary base ________

A firm's goal is to maximize normal profit

Indicate whether the statement is true or false

Which of the following would call for an inflow of payments to the United States?

a. American imports of German steel b. American firms selling insurance to British shipping companies c. gold flowing out of the United States d. American unilateral transfers to less-developed countries