In what year did the U.S. inflation rate jump to close to 18%?

What are the two policy-making bodies of the Federal Reserve?

A) the Board of Governors and the U.S. Congress B) the Board of Governors and the Federal Open Market Committee C) the Board of Governors and the Presidents' office D) the Federal Open Market Committee and the U.S. Congress

A perfectly elastic demand curve implies that the firm:

A. must lower price to sell more output. B. can sell as much output as it chooses at the existing price. C. realizes an increase in total revenue that is less than product price when it sells an extra unit. D. is selling a differentiated (heterogeneous) product.