The price elasticity of demand would most likely be the lowest for

When the Fed ________ the federal funds rate, other short-term interest rates ________ and the exchange rate ________

A) lowers; rise; rises B) raises; fall; rises C) raises; rise; rises D) raises; rise; falls E) lowers; rise; falls

According to Gary Libecap and Ronald Johnson, which of the following was a positive outcome of fraudulently obtaining land by larger firms?

a. Fines charged to fraudulent companies provided substantial revenues for the federal government. b. Resources were transferred to companies that could take advantage of economies of scale. c. Conflicts between farmers and railroads were reduced. d. Legislators friendly to economic development were elected because of backing from the fraudulent companies.