An outflow of dollars (caused, say, by an excess of U.S. imports over U.S. exports ) may have the reverse effect. 16. a. ... Suppose that the Bavarian Motor Works and Audi- Volkswagen have sold $100 million worth of their automobiles in the United States. ... Of course, if the Fed considers that policy undesirable in the light of domestic conditions, it can keep the commercial-bank deposit ... The latter concludes with specific instructions about precisely what the New York Fed should do.
|Title||:||Study guide to accompany Samuelson-Nordhaus Economics|
|Author||:||Gary Wynn Yohe|
|Publisher||:||McGraw-Hill College - 1989-06|