Using open market operations to create or reduce deposits has two advantages over other tools. Those advantages are

If a good's price increases by 2 percent, then its quantity supplied increases by more than 2 percent. This means

A) supply is elastic. B) supply is unit-elastic. C) supply is inelastic. D) the good has good substitutes.

National income is derived from gross domestic product by

A) subtracting retained earnings from gross domestic product. B) adding personal taxes and depreciation to gross domestic product. C) subtracting depreciation from gross domestic product. D) adding personal income and transfer payments to gross domestic product.