Steph Curry loves playing basketball so much that he would be willing accept a salary that simply keeps him housed and fed. But because his skills are so rare, professional basketball teams will compete to pay him tens of millions of dollars to play for them. These tens of millions of dollars are

If the Federal Reserve raises the real interest rate for any given inflation rate ________

A) investment spending would increase B) it would lead to higher consumption spending and net exports C) the aggregate demand curve would shift to the left D) all of the above E) none of the above

On the books of the Fed the difference between borrowed reserves and discount loans is equal to

A) excess reserves. B) required reserves. C) currency in circulation. D) zero; they are the same thing.