Each firm under monopolistic competition produces a unique product which does not have a close substitute

In its function of controlling the money supply, the Fed does which one of the following?

a. Controls the money supply. b. Clears checks. c. Regulates banks. d. Holds gold belonging to foreign governments. e. All of these.

The percentage change in quantity demanded divided by the percentage change in income is the formula for:

a. cross-price elasticity of demand. b. income elasticity of demand. c. elasticity of savings. d. wage elasticity of labor supply.