Your text suggests the Fed
A) is a slave to Congress.
B) is totally free from political pressure.
C) probably cannot pursue monetary policies that completely contradict the federal government's fiscal policies.
D) is a hoax and a shame that ought to be abolished.
C
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If a government must run a balanced budget, then tax revenues and government spending:
a. move roughly in opposite directions. b. move exactly in opposite directions. c. move exactly in the same direction. d. move roughly in the same direction.
Product differentiation allows a firm to charge a higher price because the residual demand curve facing the firm
A) is more elastic than the residual demand curve without product differentiation. B) is less elastic than the residual demand curve without product differentiation. C) is horizontal. D) shifts to the left.