Refer to Figure 13-2. Ceteris paribus, an increase in workers and firms adjusting to having previously underestimated the price level would be represented by a movement from

Market failure: A case in which the __________ of govt intervention causes too much/not enough of a good to be produced at a ______ which is not ________________

Fill in the blank(s) with the appropriate word(s).

Which of the following is a policy tool of the Fed?

i. setting the required reserve ratios ii. conducting open market operations iii. quantitative easing A) i only B) ii only C) iii only D) Both i and ii E) i, ii, and iii