Control of the nation's quantity of money is handled by
A) Congress.
B) the Federal Reserve System.
C) the President of the United States.
D) Congress, the Federal Reserve System, and all commercial banks.
B
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If a country chooses to have a monetary policy oriented toward domestic goals and the freedom of international capital movements, then
A) it can have a fixed exchange rate. B) it cannot have a fixed exchange rate. C) it cannot balance its current account. D) it cannot have a fiscal policy oriented toward domestic goals. E) it cannot control money supply growth.
A price elasticity of supply of 0.56 means that:
a. for every 10 percent change in price, quantity supplied will move in the same direction by 0.56 percent. b. for every 10 percent change in price, quantity supplied will move in the opposite direction by 0.56 percent. c. for every 10 percent change in price, quantity supplied will move in the opposite direction by 5.6 percent. d. for every 10 percent change in price, quantity supplied will move in the same direction by 5.6 percent.