International policy coordination refers to
A) central banks in major nations acting without regard to the global consequences of their policies.
B) central banks in major nations pursuing only domestic objectives.
C) central banks adopting policies in pursuit of joint objectives.
D) central banks all adopting identical policies.
C
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If taxes are cut, there is
A) an increase in aggregate demand and the AD curve shifts rightward. B) a decrease in aggregate demand and the AD curve shifts leftward. C) an increase in the quantity of real GDP demanded and a movement up along the AD curve. D) a decrease in the quantity of real GDP demanded and a movement down along the AD curve. E) no change in aggregate demand, only a change in potential GDP.
When the Fed purchases government securities from a commercial bank, the bank
a. loses its ability to make loans. b. automatically becomes poorer. c. loses equity in the Fed. d. receives reserves that can be loaned out.