The higher the federal funds rate, the ________ the opportunity cost of holding reserves, which ________ the incentive to economize on reserves

Marginal utility theory concludes that a decrease in the price of a good increases the quantity demanded and

A) increases the demand for substitutes. B) decreases the demand for complements. C) increases the total expenditure on the good. D) increases total utility.

According to Douglass North, the Industrial Revolution occurred in England because

A) the British Parliament instituted a command economy structure and implemented a planned economy. B) the British courts became tied to the king and began to refuse to enforce property rights. C) the British Parliament took control of the government and could credibly commit to upholding property rights. D) the British monarchy took control of the government and pledged not to raise taxes arbitrarily.