As more of a good is consumed, marginal benefit ________ and as more of a good is produced, marginal cost ________

When the price of a product increases from $35 to $45, the quantity supplied increases from 30 units to 40 units per week. Using the midpoint method, the price elasticity of supply is

A) 0.00. B) -1.1. C) 1.14. D) 1.35. E) 0.88.

Using the traditional tools of monetary policy, the Federal Reserve has direct control over ________ and through that an ability to impact ________.

A. monetary base; short-term interest rates B. long-term interest rates; mortgage rates C. unemployment; inflation D. mortgage rates; real GDP