You watch a lot of HGTV during your summer vacation, and you notice that most housing buyers list granite countertops in their "must have" lists when buying a new or existing house. You expect the demand for
a. granite countertops to shift to the left.
b. granite countertops to shift to the right.
c. substitute products such as marble countertops to shift to the right.
d. substitute products such as marble countertops to be unaffected by buyers' preferences for granite.
b
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_________ is where it is cheaper for separate products to be produced independently than for one firm to produce the same products jointly.
Fill in the blank(s) with the appropriate word(s).
Which of the following correctly describes what the Fed used as monetary targets in the past?
A) The Fed used M1 and M2 as targets after 1993. B) After 1980 and before the 1990s, the Fed focused on interest rate targets. C) The Fed focused on M1 as a target after deregulation of the financial markets. D) The Fed increased its reliance on interest rate targets since the mid-1990s.