Attempts to create a monopoly by having favorable laws passed are examples of rent seeking

Consider an economy where the growth rate of real GDP is 6% and the annual rate of inflation is 2%. If the quantity theory of money holds, the growth rate of money supply in the economy will be:

A) 6%. B) 2%. C) 8%. D) 4%.

Members of Congress are able to influence monetary policy, albeit indirectly, through their ability to

A) withhold appropriations from the Board of Governors. B) withhold appropriations from the Federal Open Market Committee. C) propose legislation that would force the Fed to submit budget requests to Congress, as must other government agencies. D) instruct the General Accounting Office to audit the foreign exchange market functions of the Federal Reserve.