In most economies, resources are allocated by
A) a central planning board.
B) a dictator.
C) the combined and decentralized actions of millions of people.
D) the majority's will.
C
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When Congress established the Federal Reserve in 1913, what was its main responsibility? When did Congress broaden the Fed's responsibilities?
What will be an ideal response?
Holding all other things constant, when the price level falls, interest rates:
a. rise and firms want to borrow more for new plants and equipment and households want to borrow more for homebuilding. b. rise and firms want to borrow more for new plants and equipment and households want to borrow less for homebuilding. c. falls and firms want to borrow less for new plants and equipment and households want to borrow more for homebuilding. d. falls and firms want to borrow more for new plants and equipment and households want to borrow more for homebuilding.