Which of the following is most limited in scope under a pure market economy?
a. Freedom of choice

If the Fed lowers the federal funds rate, eventually the

A) AS curve shifts rightward, decreasing real GDP and raising the price level. B) AS curve shifts leftward, decreasing real GDP and raising the price level. C) AD curve shifts leftward, decreasing real GDP and raising the price level. D) AD curve shifts leftward, decreasing real GDP and lowering the price level. E) AD curve shifts rightward, increasing real GDP and raising the price level.

In deciding what to buy, the consumer will choose the good with the:

A. Highest marginal utility B. Lowest price C. Highest marginal utility-to-price ratio D. Lowest marginal utility-to-price ratio