Gradually over the last two decades, ________ policy has emerged as the major stabilization policy tool in the United States

Suppose that the demand for corn is price inelastic. If a technological advance makes corn farms more productive, the equilibrium price of corn will ________ and the farmers' total revenue will ________

A) rise; increase B) rise; decrease C) fall; increase D) fall; decrease

When the Fed unexpectedly decreases the money supply,

a. real interest rates will tend to decline. b. the exchange rate value of the dollar will tend to appreciate. c. aggregate demand will tend to increase. d. there is generally no impact on the economy.