The logic behind the tradeoff between inflation and unemployment is that high aggregate demand puts upward pressure on wages and prices while raising output

All of the following were actions taken by the government or the Fed in response to the Financial Crisis of 2007-2009 EXCEPT

A) purchasing of most toxic assets such as mortgage-backed securities. B) reducing the federal funds rate to near zero. C) insuring deposits in money market mutual funds. D) effective nationalization of Fannie Mae and Freddie Mac.

The price elasticity of demand for good x is defined as:

a. percentage change in px / percentage change in x. b. percentage change in x /percentage change in px. c. percentage change in x/percentage change in income. d. percentage change in x /percentage change in py.