A buyer’s response to a change in income is an example of a “change in demand.”

The Fed:

a. has little control over the money supply. b. serves as the central bank for the United States. c. often uses a mix of lower taxes in its fiscal policy. d. ensures commercial bank profitability.

The short-run aggregate supply curve (SRAS) is based on the theory that wages are flexible

a. True b. False Indicate whether the statement is true or false