The figure illustrates the demand for peanuts. If the price falls from $12 to $9 a bag, total revenue will ________, and if the price rises from $3 to $6 a bag, total revenue will ________

The Fed's use of the ________ as an operating target in the 1970s resulted in ________ monetary policy

A) federal funds rate; countercyclical B) federal funds rate; procyclical C) M1 money supply; countercyclical D) M1 money supply; procyclical

Which of the following is TRUE of the Fed's credit policy?

A) The Fed has implemented a credit policy since 1914. B) Today about 40 percent of the Fed's asset holdings are related to its conduct of credit policy. C) The Fed's credit policy is extended only to U.S. financial institutions. D) The Fed's objective for its credit policy is to reduce the federal funds rate.