All of the following are characteristics of perfect competition EXCEPT

Considering only the goods and forex markets, as the economy adjusts to lower rates of interest and equilibrium is restored, the level of GDP will:

A) fall. B) rise. C) become unstable. D) decline very gradually.

Open market operations refer to the purchase or sale of ________ to control the money supply

A) corporate bonds and stocks by the Federal Reserve B) U.S. Treasury securities by the Federal Reserve C) corporate bonds and stocks by the U.S. Treasury D) U.S. Treasury securities by the U.S. Treasury