Which of the following government programs usually accompanies a price floor in agriculture?

As a result of money in an economy,

A) transaction costs are higher than would be the case in a barter economy. B) people are greedier than in a barter economy. C) real Gross Domestic Product (GDP) and economic growth are greater than they would be in a barter economy. D) stealing exists and people have to find ways to prevent theft.

Which of the following explains why the monetary policy implementation lag is relatively short?

I. The FOMC meets several times a year and policymakers are easily able to confer in between meetings. II. Open market operations, one of the Fed's policy instruments can be put into effect immediately. III. The Chairman of the Fed works in close collaboration with the President. IV. Most financial institutions are member banks and will not hesitate to put into effect any new monetary policy. A) I B) I and II C) I, II, and III D) I, II, III, and IV