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Evelyn Rogers is a British citizen who works as a pilot for British Airways. She primarily flies international flights between London and the U.S. For 2015, she earned $205,000 total salary and bonus. She flew 80 round-trip flights between London and U.S. cities, typically either New York or Houston. Her calendar indicates that she spent a total of 146 days in the U.S., including layovers between flights. The remainder was spent outside the U.S., primarily in London. She also maintained a log of her hours spent in the U.S. and outside the U.S. for 2015, which can be summarized as follows:
U.S.
Non-U.S.
Pre-flight services
60 hrs
Flight hours
170 hrs
630 hrs
What portion of her 2015 income will be classified as U.S.-source? Input your answer using commas, but no dollar signs.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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