Why has the Federal Reserve chairman often been called the second most important person in terms of affecting the economy?
A) The Fed chairman has veto power over all federal spending.
B) The Fed is in control of monetary policy.
C) The Fed chairman draws the second highest salary of any official of the federal government.
D) The Fed has regulatory power over all financial markets.
B
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The actions of borrowers and lenders are coordinated by
a. the interest rate in the loanable funds market. b. the government in the resources market. c. businesses in the resources market. d. the interest rate in the goods and services market.
The demand curve facing a monopolist will be more elastic
A) the greater is the number of substitute products. B) as the consumers' need for the good increases. C) the greater is the amount of fixed costs to cover. D) as the number of consumers increases.