Problem
1. Explain the difference between the nominal interest rate and the real interest rate.
2. When did the five most recent recessions occur in the United States?
3. What role did credit market imperfections play in the recent financial crisis.
4. Is it a bad idea for a country to run a current account deficit? Why or why not?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.