The president of which Federal Reserve bank is always a voting member of the Federal Open Market Committee?

Suppose that the Bank of Japan buys yen-denominated assets with U.S. dollar assets. Everything else held constant, this transaction will cause ________ in the foreign assets held by the Federal Reserve and ________ in the U.S. monetary base

A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease

What is the difference between elastic and inelastic demand? Use examples to explain your answer