When the price level falls, households and firms reduce their holdings of money, leading to a lower interest rate and an increase in borrowing and an increase in RGDP demanded

According to Robert E. Hall and Charles Jones, successful economic performance requires

A) a favorable infrastructure of rules and institutions. B) minimizing corruption and criminality. C) the use of one of the eight major international languages. D) A and B. E) all of the above.

The Federal Reserve System is composed of:

A. three branches with overlapping responsibilities. B. six branches with overlapping responsibilities. C. twelve branches with clear responsibilities. D. five branches with clear responsibilities.