Suppose the demand function for a good is expressed as Q = 100 - 4p. If the good currently sells for $10, then the price elasticity of demand equals

High-powered money minus currency in circulation equals

A) reserves. B) the borrowed base. C) the nonborrowed base. D) discount loans.

When the Federal Reserve purchases a government bond from a primary dealer, reserves in the banking system ________ and the monetary base ________, everything else held constant

A) increase; increases B) increase; decreases C) decrease; increases D) decrease; decreases