Property rights allowing individuals to own goods, services, and factors of production are most important in:

The AE curve illustrates the relationship between

A) real GDP and actual expenditure. B) the interest rate and aggregate planned expenditure. C) real GDP and the interest rate. D) aggregate planned expenditure and real GDP. E) the quantity of real GDP demanded and the price level.

Some have argued that the Federal Reserve looked at the wrong indicator of monetary policy, and that the Fed mistakenly thought that monetary policy was "easy" because ______

a. the stock of money had grown rapidly b. the monetary base had grown rapidly c. market interest rates were low d. bank reserve ratios were low