Ordinarily the Fed lends money only to banks, but during the Great Recession of 2007-2009 the Fed extended its lender-of-last-resort role to other financial institutions. These institutions included

If beef and pork are substitutes for consumers, the cross elasticity of demand between the two products must be

A) negative. B) positive. C) indeterminate. D) elastic. E) greater than 1.

A decrease in the equilibrium price for a product will result

A) when there is a decrease in demand and a decrease in the number of firms producing the product. B) when there is an increase in supply and a decrease in demand for the product. C) when the quantity demanded for the product exceeds the quantity supplied. D) when there is a decrease in supply and a decrease in demand for the product.