Which of the following would economic freedom lead to?

A firm that backward vertically integrates

A) moves downstream in the production process. B) requires that the production process be relatively simple. C) has to merge with another firm. D) may be producing its own inputs.

The concept of “lender of last resort” is that when

A. lending decreases, the Fed will be the last to resort to higher interest rates. B. borrowing increases, the Fed will be the last to increase lending. C. commercial banks are hesitant to lend, the Fed will step in and increase reserves. D. a borrower has tried everyone else, the Fed will lend directly to them.