The OPEC production cuts of 1999-2000 increased energy prices and caused the aggregate supply curve to

All else constant, as more firms substitute alternative materials, e.g., plastic, for copper, the market price of copper would be expected to:

A) increase. B) stay the same. C) decrease. D) cannot be determined with the information given.

The fact that there is a market for federal funds enables banks to:

A. hold a lower level of excess reserves than they would otherwise hold. B. hold less in required reserves. C. borrow more from the Fed. D. make fewer loans than they would otherwise.