\Suppose the quantity demanded of steak is 200 million pounds per year when the price is $6 per pound and 400 million pounds per year when the price is $2 per pound. The price elasticity of demand for steak over this range is:

If the United States is a "net borrower" from abroad

A) net foreign investment must be positive. B) national saving is less than domestic investment. C) the United States must be exporting more than it is importing. D) net capital flows must be negative.

Each Federal Reserve bank has nine directors. Of these ________ are appointed by the member banks and ________ are appointed by the Board of Governors

A) three; six B) four; five C) five; four D) six; three