Which of the following appears as an asset on the Federal Reserves balance sheet?

The main purpose of the Fed is to:

a. serve as the bankers' bank for member banks. b. regulate interest rates. c. print Federal Reserve Notes. d. regulate financial institutions. e. maintain the proper functioning of our money system.

The demand curve for the product of a perfectly competitive firm is

A) perfectly elastic. B) perfectly inelastic. C) elastic at high prices and inelastic at low prices. D) identical to the elasticity of demand on the market demand curve.