______________—a term referring to the extremely elastic situation of demand or supply where quantity changes by an infinite amount in response to any change in price; it is horizontal when graphed.

The rate of interest charged for reserves in the federal funds market is the

A) federal funds rate. B) open market rate. C) required reserve rate D) discount rate.

If a common area is turned into a private resource, the owner will have incentives for using that resource efficiently.

Answer the following statement true (T) or false (F)